Programs

On November 3, 2020, voters approved the two major Dallas ISD bond propositions: Proposition A, Construction, which included $3.2 billion to fund repairs and upgrades to more than 200 of the district’s 230 campuses, and Proposition B, Technology, which included $270 million to cover the cost of purchasing and making updates to district technology. This bond program is in the process of wrapping up multiple construction projects.

In November 2018, the district had two $75 million bond authorization propositions approved. The first authorization was approved to refund $75 million in 2015 maintenance tax notes due, allowing the remaining principal and interest to be paid from the interest and sinking fund. The second $75 million authorization was approved to fund the transportation needs of the district, including the purchase and/or maintenance of buses, fleet vehicles and transportation facilities.

Voters approved a $1.6 billion bond referendum on November 3, 2015. The district’s 2015 Bond Program began with the first sale of bonds in February 2016 and included $100 million for technology improvements to campuses. Under the leadership and supervision of the Construction Services Department, the $1.6 billion was used to improve and build District facilities. The 2015 Program included plans to construct five new schools, including one high school and four elementary schools. In addition, the program will construct twelve additions to existing schools, including six high schools, one middle school, and five elementary schools. The program also included renovations and improvements to 113 existing District facilities including roofs, HVAC, building envelope, interior improvements, site improvements, exterior façade improvements, plumbing, technology, gyms, locker rooms, libraries, science labs, cafeterias, auditoriums, performing arts, fine arts, athletic facilities, and administration areas in schools.

In June 2017, the district issued $4,405,000 in interest free “Qualified Zone Academy Bonds, Taxable Series 2017”. The district sold the bonds by private placement at par. Proceeds were used for technology upgrades, equipment, and software. The $4,405,000 principal is due in a bullet maturity on February 15, 2027.

In May 2008, a capital improvement bond program of $1.35 billion was approved by the voters and the first sale of bonds was held in December 2008. The initial scope of the 2008 bond program included the construction of 14 new schools, including 8 elementary schools, 4 middle schools, and 2 high schools.  In addition, there were 13 school additions completed, $521 million was allotted to improve existing school facilities, $12 million was designated for 19 new science labs, $20 million for 16 school renovations plus dining room expansions at 22 schools, $96 million for technology improvement and $14 million to refurbish athletic facilities. $112 million was allotted for renovation of support facilities, property acquisition for new schools and removal of hazardous materials.  This bond program has been completed.

Between 2001 and 2008, the district issued $8,000,000 of Qualified Zone Academy Maintenance Tax Notes (QZAB), beginning in 2001 to 2008.  This debt has been fully repaid from the general fund.  In August 2013, the Board of Trustees approved the issuance of the “Dallas Independent School District Limited Maintenance Tax Qualified School Construction Notes (QSCN), Series 2013, in an aggregate principal amount of $143,400,000.  The $143,340,000 QSCN principal is due in a bullet maturity on 8-15-203.  This debt has been provided for annually in a debt serve reserve fund.

The proceeds from the issuance of the QZAB’s and QSCB’s was used for the purpose of paying lawful maintenance expenses of the district, including heating and air conditioning system improvement, renovation of instructional and instructional‐support facilities, and paying the costs of issuance for this debt.

In August 2018, the district entered into a 3-year revolving credit agreement/Commercial Paper (CP) Program with J.P. Morgan Chase, NA, in the amount of $300 million, to support the 2015 Bond Program and subsequent 2020 Bond Program. The 2018 CP Program ended in August 2021. On July 28, 2021, the district entered into a 5-year revolving credit agreement/CP program with Bank of America, NA; this credit agreement expires on July 28, 2026. Pursuant to the Order for the 2020 CP Program, multiple series of commercial paper notes may be issued in aggregate principal amount at any one time not to exceed $300,000,000. In addition, the district utilizes an Extendible CP Program with Bank of America, NA, of up to $500 million (the extendible CP program was amended in December 2024 to increase this portion of the CP program’s availability for letting contracts from $200 million to $500 million). The total available 2020 CP Program is $800 million.