Program

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.