8.1 Adoption of Resolution Regarding Investment Policy, Investment Strategies, Investment Training Providers, and Investment Broker/Dealers

[8.2 Consider all matters incident and related to the issuance and sale of “Plano Independent School District Unlimited Tax School Refunding Bonds, Series 2025B,” including the adoption of an order authorizing the issuance of such bonds, establishing parameters for the sale and issuance of such bonds, and delegating certain matters to authorized District officials]

CONSIDER ALL MATTERS INCIDENT AND RELATED TO THE ISSUANCE AND SALE OF PLANO INDEPENDENT SCHOOL DISTRICT, AND LIMITED TAX SCHOOL REFUNDING BONDS, SERIES 2025 B, INCLUDING THE ADOPTION OF AN ORDER AUTHORIZING THE ISSUANCE OF SUCH BONDS, ESTABLISHING PARAMETERS FOR THE SALE AND ISSUANCE OF SUCH BONDS AND DELEGATING CERTAIN MATTERS.

TO AUTHORIZE DISTRICT OFFICIALS.

I WILL INVITE JOHNNY HILL, DEPUTY SUPERINTENDENT FOR BUSINESS EMPLOYEE SERVICES AND TECHNOLOGY, AND MISS LAURA ALEXANDER FROM HILLTOP SECURITIES TO PLEASE PRESENT.

>> CAN I JUMP IN JUST FOR A SECOND.

SO WHEN YOU LOOK AT THE TITLE OF THAT AGENDA ITEM, YOU'RE THINKING THE LAWYER MUST HAVE WROTE THAT.

I DO WANT TO POINT OUT THE LADY THAT'S SITTING IN THE SECOND ROW IN THE WHITE JUMP IN THE WHITE SET IS A MISS KRISTIN SAVANT.

SHE'S WITH NORTON ROSE FULBRIGHT, I THINK.

THANK YOU FOR BEING HERE TONIGHT.

ALSO, SHE DOES ALL OF OUR BOND LEGAL WORK.

THEN OF COURSE, THE LADY WHO NEEDS NO INTRODUCTION, BUT THAT'S ALREADY RARE AND THE GO AT THE DIAS IS, OF COURSE, MISS LAURA ALEXANDER.

YOU HEARD COURTNEY TALK ABOUT HILLTOP ASSET MANAGEMENT, WHICH ACTUALLY HELPS US WITH OUR INVESTMENTS.

OBVIOUSLY, LAURA ALEXANDER AND HER GROUP ACTUALLY HELPS US WITH ALL OF OUR DEBT MANAGEMENT.

SO WHEN YOU'RE TALKING ABOUT $1.4 BILLION OF OUTSTANDING DEBT, THEN THERE'S A FEW BASIS POINTS THAT CAN MAKE A MEANINGFUL DIFFERENCE.

WE ARE CONSTANTLY IN CONVERSATION ABOUT WAYS THAT WE CAN REFINANCE OR RESTRUCTURE OUR DEBT IN ORDER TO MAXIMIZE WHAT WE HAVE TO PAY IN INTEREST, WHAT OUR TAXPAYERS HAVE TO PAY AN INTEREST.

THERE'S AN OPPORTUNITY BECAUSE THE 2016 BONDS HAVE COME DUE AS FAR AS COLABLE.

THERE'S AN OPPORTUNITY FOR US TO LOOK AT THAT TO SEE IF THERE'S A WAY THAT WE CAN ACTUALLY RESTRUCTURE, REFUND SOME OF OUR DEBT IN ORDER TO MAXIMIZE OUR INTEREST THAT WE'RE HAVING TO PAY.

I'M GOING TO TURN IT OVER TO HER. SHE'S BRILLIANT, AND SHE'S GOT A LOT OF GOOD THINGS TO SAY TONIGHT. TAKE IT AWAY.

>> YEAH. THANK YOU, JOHNNY. THAT'S VERY KIND.

I DON'T OFTEN GET TO TALK ABOUT WHERE WE'VE BEEN WHEN WE'RE HERE A LOT OF TIMES WE'RE JUST LOOKING AHEAD AND I KNOW IT'S LATE, BUT I'M GOING TO MAKE THIS QUICK, BUT I WANTED TO MAYBE PAINT A LITTLE BIT OF A PICTURE AND REALLY GIVE YOU GUYS SOME CREDIT FOR SOME OF THE THINGS THAT WE'VE ACCOMPLISHED.

REALLY HERE ON THE FIRST SLIDE IS JUST A QUICK SUMMARY OF THE OUTSTANDING BOND ISSUES AND THE ONES IN GRAY ARE THE REFUNDING CANDIDATES THAT JOHNNY WAS TALKING ABOUT.

I KNOW WE HAVE A COUPLE OF NEW BOARD MEMBERS, I THINK, SINCE THE LAST TIME WE'VE TALKED ABOUT REFINANCINGS.

THE MAIN THING THAT I WANT YOU TO KNOW IS THAT TAXES AND BONDS ARE LIMITED AND HOW MANY TIMES YOU CAN REFINANCE THEM.

UNLIKE YOUR MORTGAGE, WHEN ANY TIME THERE'S SAVINGS, YOU CAN DECIDE TO GO OUT AND REFINANCE YOUR MORTGAGE FOR SAVINGS HERE.

WE HAVE TO BE WITHIN 90 DAYS OF THAT CALL DATE, AND THAT CALL DATE COLUMN IS DRIVING THESE TAX EXEMPT REFINANCING OPPORTUNITIES.

REALLY, THAT'S THE MAIN TAKEAWAY HERE.

AGAIN, WE HAVE A PAYMENT SCHEDULE HERE IN THE BOTTOM BY SERIES AND THEN HIGHLIGHT THE DISTRICTS AAA AND AA PLUS RATINGS, WHICH ARE EXTREMELY HIGH.

>> THIS SLIDE HAS A LOT ON IT.

THE MAIN THING I WANT TO CONVEY IS THAT THIS IS KIND OF A THREE YEAR RECAP.

[01:10:03]

THREE YEARS AGO, YOU WERE JUST GOING INTO THE BOND ELECTION FOR THE 1 BILLION 350 MILLION, AND AT THAT TIME, YOU HAD 492 MILLION OUTSTANDING OF BONDS.

FAST FORWARD TODAY, YOU'VE PAID DOWN 371 MILLION IN BONDS, AND BECAUSE THE NEW BONDS ARE SOLD WITH A PREMIUM, WHICH MEANS THE PRINCIPAL AMOUNTS A LITTLE BIT LESS THAN THE ACTUAL AMOUNT WAS FUNDED, THE BOND HOLDERS PAY YOU A LITTLE BIT MORE THAN 100 CENTS ON THE DOLLAR, HOW THAT WORKS, THAT'S JUST THE WAY BONDS ARE MARKETED IN MY WORLD, YOU'RE ACTUALLY DOWN TO A BILLION FOUR OUTSTANDING TODAY.

BUT AGAIN, YOU'VE AUTHORIZED BASICALLY A BILLION FOUR, YOU HAD ALMOST 500 MILLION OUTSTANDING THEN AND YOU'RE ALREADY BACK DOWN TO A BILLION FOUR JUST IN THREE YEARS, AND I THINK THAT'S NOTEWORTHY.

THAT'S REALLY CONSISTENT WITH WAY THE DISTRICT HAS TRIED TO ACCELERATE PRINCIPLE AND PAY DOWN DEBT FASTER WHEN WE CAN, AND CREDIT TO THE BOARD FOR HOLDING THE DEBT TAX RATE CONSTANT FOR ALL THESE YEARS BECAUSE THAT'S ALLOWED US TO PAY A LOT LESS INTEREST AND THEREFORE PAY MORE PRINCIPAL FASTER.

THE OTHER THING I WANTED TO NOTE IS THAT THOSE THREE BOND ISSUES, SO THE 2023 BONDS WAS THE FIRST SERIES THAT WE SOLD OF THAT AUTHORIZATION AND THEN EARLIER IN JANUARY AND THEN WE CLOSED OUT SOME PRIOR AUTHORIZATION JUST AT THE END OF THE SUMMER, THE BLENDED BORROWING COST ON ALL OF THAT DEBT WAS 3.63% AND AN AVERAGE LIFE OF 8.8 YEARS.

IN THE AVERAGE LIFE, IF YOU SOLD 20 YEAR DEBT WITH A MORTGAGE STYLE AMORTIZATION, THAT WOULD HAVE ABOUT A 12 YEAR AVERAGE LIFE, AND THESE WERE UNDER NINE YEARS SO, AGAIN, WE'RE STILL IN THAT SPIRIT OF TRYING TO PAY DOWN DEBT FASTER AND HAVE LESS INTEREST.

SO THIS IS YOUR CURRENT PRINCIPAL AND INTEREST SCHEDULE.

YOU'LL SEE 2026, THE LINE ON THE FAR LEFT IS THE PRINCIPAL AND THEN THE INTEREST IS THE RED.

THE DOTTED LINE GOING ACROSS THE TOP IS BASICALLY THE REVENUE CONSTRAINT FOR THE DEBT SERVICE REVENUES THAT YOU ARE EARNING IN THE CURRENT YEAR.

WE'RE NOT SHOWING GROWTH, BUT WE'RE JUST ASSUMING IF THAT REVENUE STREAM STAYED FLAT.

I'M SHOWING THAT YELLOW BOX, SO THERE'S SOME CAPACITY THERE THAT WE CAN MOVE DEBT INTO WITH THIS REFINANCING.

KNOWING THAT YOU'RE PROBABLY NOT GOING BACK TO THE VOTERS UNTIL AT LEAST 2029 OR 2030, WE'RE GOING TO TRY TO TARGET AND ADD ADDITIONAL DEBT TO '27 AND '28 TO JUST AT LEAST MATCH THE CURRENT REVENUE NUMBER.

WE WON'T GET IT EXACTLY RIGHT, AND AS YOU'LL RECALL IN THE PAST YEARS, WE'LL COME BACK WITH DEFEASANCE RESOLUTIONS WHEN YOU ADOPT THE TAX RATE, WHICH ALLOWS US TO GO BACK IN AND CALL DEBT EARLY, PREPAY IT, REDUCE INTEREST EXPENSE.

WE'LL PROBABLY STILL BE DOING THAT, BUT IN SMALLER AMOUNTS BUT WE'RE GOING TO TRY TO ACCELERATE THIS REFUNDING A LITTLE BIT MORE INTO THOSE TWO YEARS.

THESE ARE THE ACTUAL REFUNDING CANDIDATES JUST HIGHLIGHTED ONCE AGAIN, AND AS LONG AS WE CLOSE THESE BONDS AFTER NOVEMBER 17, WE MEET THAT 90 DAY THRESHOLD THAT I MENTIONED.

THIS IS A COMPARISON OF THE DEBT ON JUST THESE 2016 BONDS, THE TWO SERIES COMBINED OR OR THE THREE COLUMNS ON THE LEFT.

THE 2025 B REFUNDING COLUMNS ARE JUST A PRO FORMA OF WHAT THESE DEBT MIGHT LOOK LIKE WHEN WE RESTRUCTURE IT, AND YOU'LL SEE IN 2027 HOW THERE'S 26 MILLION THAT COMES DUE CURRENTLY, AND WE'RE TALKING ABOUT BUMPING THAT UP TO 43 MILLION, FOR EXAMPLE.

WHAT THAT DOES IS IT CREATES DIS-SAVINGS, ACTUALLY, THAT POTENTIAL SAVINGS COLUMN, YOU'LL SEE NEGATIVE NUMBERS IN THOSE TWO YEARS BECAUSE AGAIN, WE'RE MOVING PRINCIPLE INTO THOSE YEARS, BUT IT CREATES A LOT MORE SAVINGS IN THE OUTER YEARS, YOU SEE THOSE $7.1 MILLION NUMBERS, WHICH IS GOING TO GIVE YOU MORE CAPACITY FOR THE NEXT BOND PROGRAM AND ALLOW YOU TO AGAIN KEEP THE CYCLE GOING.

THEN WE JUST COMPARED IT TO LEVEL SAVINGS IF WE JUST MIRRORED THE EXISTING DEBT AND DID WHAT I WOULD CALL VANILLA STRUCTURE, AND YOU ACTUALLY OBVIOUSLY ARE GETTING MORE SAVINGS BY ACCELERATING IT BECAUSE YOU HAVE A LOWER INTEREST RATE AND PAYING LESS INTEREST.

THE CURRENT MARKET SITUATION AT THE BOTTOM IS SHOWING ABOUT THIS 12.6 MILLION AND TOTAL SAVINGS.

WE ALSO DO A DISCOUNTED PRESENT VALUE SAVINGS CALCULATION, IT'S ABOUT 7.5 MILLION, AND THE AVERAGE INTEREST RATE RIGHT NOW WE'RE SHOWING IS ABOUT 2.8%.

I GIVE YOU THAT COLOR JUST BECAUSE THIS LEGAL DOCUMENT THAT YOU'RE AUTHORIZING DELEGATES THE AUTHORITY TO MR. HILL AND THE SUPERINTENDENT, I THINK, DR. WILLIAMS, TO AUTHORIZE THE BONDS ONCE WE PRICE OR ACTUALLY APPROVE THE BONDS ONCE WE PRICE THEM SUBJECT TO CERTAIN CONDITIONS.

WE DO THIS JUST SO WE HAVE MORE FLEXIBILITY IN TERMS OF WHEN WE ACCESS THE MARKET.

WHAT WE'RE ASKING THE BOARD FOR AUTHORITY IS TO AUTHORIZE BONDS THAT DELEGATE THE AUTHORITY SUBJECT TO THESE PARAMETERS, SO AS LONG AS THE MAXIMUM PRINCIPAL AMOUNT IS LESS THAN 139,575,000 AS LONG AS THE INTEREST RATE IS LESS THAN 4%,

[01:15:02]

AS LONG AS THE PV SAVINGS, THE PRESENT VALUE SAVINGS, IS GREATER THAN 3% AND THAT WAS A LITTLE OVER FIVE ON THE PRIOR PAGE, AND THEN WE'RE SHOWING WE'RE NOT GOING TO EXTEND THE FINAL MATURITY FROM THE 2034 DATE, WHICH IS WHAT THE 2016 BONDS CURRENTLY HAVE.

I KNOW THAT WAS A LOT. WE'RE HOPING TO MAYBE BE IN THE MARKET AS SOON AS NEXT WEEK, BUT IF WE GET IT DONE IN THE NEXT COUPLE OF MONTHS, THAT'LL BE FINE TOO.

WE'LL JUST TRY TO LOOK FOR A STABLE GOOD MARKET.

I'LL BE HAPPY TO ANSWER ANY QUESTIONS.

>> I HAVE ONE QUESTION, AND IT'S A LITTLE BIT OF A CURIOSITY, WE SEE YOU A LOT.

WE'RE A LARGE DISTRICT, AND WE HAVE A LARGE PORTFOLIO AND WE LOVE SEEING YOU, SO THAT'S NOT IN ANY WAY SHAPE OR FORM, BEING PEJORATIVE, PLEASE DON'T MISUNDERSTAND ME, BUT DO YOU HAVE THIS LEVEL OF IN DEPTH DISCUSSION WITH MOST SCHOOL DISTRICTS ABOUT THEIR DEBT PORTFOLIO, OR ARE YOU SEEING US MORE AND ARE WE GOING THROUGH THESE THINGS MORE IN DEPTH THAN MORE OFTEN THAN A LOT OF DISTRICTS DO? HOW DO WE COMPARE WITH OTHER DISTRICTS IN TERMS OF OUR DEBT MANAGEMENT, OR OVERSIGHT, OR PUBLIC PRESENTATION OF THOSE THINGS?

>> I THINK THERE'S A CERTAIN LEVEL OF SOPHISTICATION OF SOME OF THE DISTRICTS, AND I'M NOT GOING TO SAY THE ONE'S RIGHT AND ONE'S WRONG WHERE SOME OF THE BOARDS DON'T WANT TO KNOW AS MUCH TO BE HONEST.

I'M NOT SAYING THEY DON'T WANT TO, HERE, THERE'S ALWAYS BEEN MORE TRANSPARENCY, SO I DO FEEL LIKE THERE'S A LITTLE BIT MORE THAT WE REVEAL, HAPPY TO DIAL THAT BACK IF YOU'RE TIRED OF GETTING INTO THE WEEDS, SO WE'LL FOLLOW YOUR LEAD.

TO BE HONEST, SOME OF THEM ARE NOT ABLE TO DO THE THINGS YOU ALL ARE ABLE TO DO, SO THE PRESENTATIONS ARE JUST A LITTLE BIT MORE VANILLA.

I'M JUST TALKING ABOUT LEVEL SAVINGS, I'M NOT GETTING INTO STRUCTURES, BUT I THINK IT'S WORTHWHILE FOR YOU ALL TO KNOW THAT THERE'S SOME EXTRA SUCCESSES THAT ARE GOING ON THERE BESIDES JUST ISSUING NEW DEBT.

SOME OF THE DISTRICTS DO HAVE A LOT MORE REVENUE CONSTRAINTS, AND SO WHAT THEY'RE ABLE TO DO IS DIFFERENT AND THEY'RE JUST SELLING AS MANY BONDS AS THEY CAN SELL EACH YEAR BASED ON A 50 CENT TEST OR A TAX RATE CONSTRAINT OR REVENUE CONSTRAINT OF SOME KIND.

DOES THAT ANSWER YOUR QUESTION?

>> I GUESS I JUST HAVE A COMMENT.

>> THIS IS DISCUSSION AND ACTION.

SO CLARIFYING QUESTIONS, IF ANYBODY HAS QUESTIONS AND THEN LET'S GET A MOTION ON THE TABLE.

>> SORRY. QUESTIONS FOR LAURA BEFORE WE LET LAURA GO.

WE WILL NOW CONSIDER ALL MATTERS INCIDENT RELATED TO THE ISSUANCE AND SALE OF PLANO INDEPENDENT SCHOOL DISTRICT UNLIMITED-TAX SCHOOL REFUNDING BONDS SERIES 2025 B, INCLUDING THE ADOPTION OF AN ORDER AUTHORIZING THE ISSUANCE OF SUCH BONDS, ESTABLISHING PARAMETERS, AND FOR THE SALE AND ISSUANCE OF SUCH BONDS, AND DELEGATING CERTAIN MATTERS TO AUTHORIZED DISTRICT OFFICIALS.

TRUSTEES, MAY I PLEASE HAVE A MOTION.

>> I MOVE THAT THE BOARD APPROVES ALL MATTERS INCIDENT AND RELATED TO THE ISSUANCE AND SALE OF PLANO INDEPENDENT SCHOOL DISTRICT, UNLIMITED-TAX SCHOOL REFUNDING BONDS SERIES 2025B, INCLUDING THE ADOPTION OF AN ORDER AUTHORIZING THE ISSUANCE OF SUCH BONDS, ESTABLISHING PARAMETERS FOR THE SALE AND ISSUANCE OF SUCH BONDS AND DELEGATING CERTAIN MATTERS TO AUTHORIZED DISTRICT OFFICIALS.

>> I'LL SECOND.

>> I HAVE A MOTION BY VICE PRESIDENT NANCY HUMPHREY, AND A SECOND BY TRUSTEE KATHERINE GOODWIN, THAT THE BOARD OF TRUSTEES APPROVES ALL MATTERS INCIDENT AND RELATED TO THE ISSUANCE AND SALE OF PLANO INDEPENDENT SCHOOL DISTRICT UNLIMITED-TAX SCHOOL REFUNDING BONDS SERIES 2025B, INCLUDING THE ADOPTION OF AN ORDER AUTHORIZING THE ISSUANCE OF SUCH BONDS, ESTABLISHING PARAMETERS FOR THE SALE AND ISSUANCE OF SUCH BONDS, AND DELEGATING CERTAIN MATTERS TO AUTHORIZED DISTRICT OFFICIALS.

IS THERE ANY FURTHER DISCUSSION? WE'LL START WITH NANCY SINCE YOU HAD SOMETHING

>> SORRY, I JUMPED AGAIN.

I JUST WANTED TO MENTION, AND LAURA, YOU CAN PROBABLY CORRECT ME IF I'M WRONG, BUT WE HAVE TO KEEP OUR EYE ON WHAT HAPPENS AT THE NEXT LEGISLATIVE SESSION, CORRECT? BECAUSE THE RULES AROUND DEFEASANCE AND ALL OF THESE OPPORTUNITIES THAT WE'VE BEEN ABLE TO TAKE ADVANTAGE OF COULD CHANGE.

AM I CORRECT ON THAT?

>> YEAH. WE'VE BEEN PLAYING A LOT OF DEFENSE WHEN IT COMES TO DEBT RELATED MATTERS WITH THIS LEGISLATIVE SESSIONS, FOR SURE.

>> I LOVE THAT WE HAVE THE AAA AND AA BOND RATINGS, WE'VE EARNED THAT OVER THE YEARS.

I THINK THAT WE WISH WE HAD ALL THE TOOLS IN OUR TOOLBOX GOING FORWARD, SO WE WILL KEEP AN EYE ON THAT COMING UP IN THE NEXT SESSION.

>> WE APPRECIATE YOUR ALSO WILLINGNESS TO FIGHT FOR THAT STUFF.

WE CAN ONLY DO SO MUCH, I OBVIOUSLY WE'RE ADVOCATING, BUT IT COMES FROM DISTRICTS LIKE PLANO THAT MAKE A DIFFERENCE.

[01:20:03]

>> WELL, THANK YOU.

>> I JUST WANT TO SAY THANK YOU AND PLEASE KEEP COMING BACK AND GOING INTO DEPTH BECAUSE IT'S THROUGH THAT THAT WE LEARN BECAUSE THAT SPEAKING THE LANGUAGE OF SCHOOL INVESTMENT IS NOT SOMETHING THAT I CAME TO THIS POSITION ALREADY AWARE OF.

IN MANY WAYS, I LEARN AS I GO, AND I KNOW I'M NOT THE ONLY ONE BECAUSE INCREDIBLY YOU'VE SPENT YOUR WHOLE CAREER LEARNING THIS AND WHAT THE GOOD TRICKS OF THE TRADE ARE.

THANK YOU FOR THAT WORK AND HELPING MAKE SOMETHING SO COMPLEX TO DISTILLING IT DOWN TO SOMETHING THAT MAKES SENSE TO SOMEONE LIKE ME. THANKS.

>> MY PLEASURE. I WAS A MATH TEACHER FOR A COUPLE OF YEARS BEFORE I WENT BACK TO BUSINESS SCHOOL.

>> I ASKED A QUESTION I DID ON PURPOSE, AND I AGREE.

I'M VERY, VERY HAPPY WITH THE DEPTH THAT YOU GO IN FOR US.

PROBABLY ONE OF MY FAVORITE DAYS AS A TRUSTEE IN THE DISTRICT IS WHEN WE CAME DOWN TO YOUR OFFICE AND SOME OF US GOT TO WATCH THE BOND SALE, IN JANUARY OF 2023, AND WE GOT TO STAND THERE AND WATCH AS THE BIDS ROLLED IN, AND MOST OF THE COMMUNITY IS PROBABLY GOING TO THINK I'M CRAZY FOR SAYING THAT BUT THIS IS GREAT.

THE REASON I ASKED IS BECAUSE I'M VERY FRUSTRATED TO SEE SOME OF THE CONVERSATION ON SOCIAL MEDIA ABOUT US "DUMPING OUR $3.4 BILLION DOWN THE TOILET" RATHER THAN HAVING FINANCIAL TRANSPARENCY AND USING OUR VOTER AUTHORIZED BOND MONEY APPROPRIATELY AND SAVING THE TAXPAYERS MONEY.

THE REASON I'M GETTING ON A SOAPBOX HERE AND PUSHING BACK ON THIS IS THAT WE HAVE A FIVE YEAR BOND PLAN.

WE HAVE PRESENTATIONS MULTIPLE TIMES A YEAR ON WHAT CONSTRUCTION IS GOING ON IN THE DISTRICT.

YOU CAN DRIVE DOWN INDEPENDENCE AND SEE HAGGARD MIDDLE SCHOOL COMING OUT OF THE GROUND.

YOU CAN DRIVE DOWN ALMA, WAVE AT MY PARENTS HOUSE AND YOU CAN SEE THE CTE CENTER, YOU CAN SEE CONSTRUCTION AT EVERY SINGLE ONE OF OUR SENIOR HIGHS.

ALL OF OUR EARLY CHILDHOOD CENTERS GOT NEW KITCHENS, ALL OF OUR MIDDLE SCHOOLS ARE GETTING NEW TRACKS.

WE HAVE A TREMENDOUS AMOUNT OF CONSTRUCTION ONGOING IN THE DISTRICT, AND WE'RE GETTING UPDATES ABOUT THAT, AND THEN WE GET SO MUCH MORE IN DEPTH FINANCIAL PRESENTATION AND PUBLIC DISCUSSION.

THIS IS PUBLIC DISCUSSION THAT WE AS A BOARD WANT TO MAKE SURE IT'S BEING REPORTED OUT TO THE PUBLIC AT THE SAME TIME AS IT IS REPORTED OUT TO US WITH A VERY HIGH LEVEL OF FINANCIAL TRANSPARENCY AND SO THAT OUR TAXPAYERS CAN UNDERSTAND WE ARE DOING THESE THINGS TO SAVE OUR TAXPAYERS MONEY ON INTEREST SO THAT EVERY DOLLAR THE DISTRICT RAISES OR EVERY DOLLAR THE DISTRICT LEVIES, I SUPPOSE, IS GOING TOWARDS VOTER APPROVED PROJECTS OR ALSO INCIDENTAL PROJECTS WHEN ISSUES ARISE ON CAMPUSES.

I ASKED A LITTLE BIT OF A LOADED QUESTION FOR YOU AND I APPRECIATE YOUR THOUGHTS, AND WE ABSOLUTELY WANT YOU TO JUST COME BACK ALL THE TIME BECAUSE WE DO LOVE THIS STUFF.

BUT I JUST WOULD SUGGEST MEMBERS OF THE COMMUNITY WHO HAVE QUESTIONS OR ARE CONCERNED ABOUT HOW OUR BOND MONEY IS BEING SPENT, WE HAVE APPROVALS ON EVERY CONSENT AGENDA, AND WE HAVE PRESENTATIONS LIKE THESE ON THE REGULAR SO YOU CAN SEE WHEN WE HAVE FINANCIAL MANEUVERINGS IN ORDER TO BALANCE OUR DEBT PORTFOLIO OR THE DISCUSSIONS ABOUT HOW WE'RE BUILDING CAPACITY FOR OUR FUTURE BOND PROGRAMS AND HOW WE HAVE BOND PROGRAMS AND SELL BONDS UNDER CERTAIN PARAMETERS FOR CERTAIN CONSTRUCTION PROJECTS AND PHASES OR IN THIS CASE, SO THAT WE CAN SAVE OUR TAXPAYERS INTEREST.

I APPRECIATE THAT TRANSPARENCY.

THE SUPERINTENDENT I THINK HAS A COMMENT.

>> WELL, I JUST WANT TO ADD TO THAT IN THAT WE HAVE A BOND PAGE, AND SO YOU CAN GO IN AND YOU CAN SEE WHAT WERE ALL THE PROJECTS ON THE 2016 BOND AND WHAT WAS THE COMPLETION OF THOSE AS WELL AS OUR CURRENT BOND.

I BELIEVE WE HAVE MR. HILL, HOW MANY PROJECTS CURRENTLY DO WE HAVE?

>> THE LAST TIME I LOOKED, WHICH IS A COUPLE OF WEEKS AGO, WE HAD ABOUT 43 PROJECTS GOING ON RIGHT NOW.

>> WE HAVE 43 PROJECTS AND TO DR. TYRA'S POINT, OFTEN THE CRITICS ARE WELL, I DON'T KNOW WHAT THEY DID WITH THAT $1.4 MILLION.

WELL, THE $1.4, SORRY, BILLION, YES, YOU CAN'T TAKE ON ALL 100% OF THE PROJECTS IN YOUR YEAR 1.

OUR PROJECTS ARE PHASED BETWEEN PHASE 1, PHASE 2, PHASE 3, THEY'RE INCREMENTAL, AND SO THAT INFORMATION, AGAIN, IS A PART OF OUR BOND PROJECT.

WE HAVE A PRESENTATION THAT WE'RE GOING TO BRING FORWARD TO THE BOARD AT OUR NEXT WORKSHOP THAT WILL AGAIN REMIND EVERYONE HERE WHERE WE ARE IN THE PROCESS, ALSO REMIND PUBLICLY WHERE WE ARE IN THE PROCESS.

JUST ONE OTHER THING THAT I WANT TO SAY,

[01:25:02]

YOU CAN VISUALLY SEE A LOT OF THE WORK BECAUSE WE DO HAVE SOME MAJOR RENOVATIONS THAT ARE TAKING PLACE AS WELL AS NEW CONSTRUCTION.

A MAJOR PART OF PROP 2, WHICH WAS THE BIG $1.3 BILLION PROPOSITION, ARE THINGS THAT ARE NOT NECESSARILY THAT YOU CAN DRIVE BY AND SEE.

YOU CAN SEE OUR PLAYGROUND, SO THAT'S LOVELY, BUT WE HAVE A LOT OF SYSTEMS AND COMPLIANCE PIECES THAT MIGHT BE ON THE ROOF, MIGHT BE IN HVAC, MIGHT BE IN ALL OF THOSE AREAS, AND SOME OF THOSE HAVE YET TO BE TOUCHED.

AND SO I WANT TO ECHO TO YOUR POINT AND THEN ALSO GIVE CONTEXT TO WHERE WE ARE IN THE PROCESS AND CONTEXT OF WHERE YOU CAN FIND MORE INFORMATION IF INQUIRING MINDS WANT TO KNOW.

>> JUST FOR A TEASER, I REVIEWED THE PRESENTATION THAT WILL BE PRESENTED TO THE BOARD ON THE 21ST, JUST IN TWO MORE WEEKS, THERE ARE FLYOVERS OR DRONE FLYOVERS OF ALL OF OUR MAJOR PROJECTS, VERY COOL.

ANYBODY WHO'S INTERESTED IN THAT, PLEASE EITHER COME OR WATCH IT ONLINE.

BUT THERE ARE SOME DRONE FLYOVERS OF PLANO SENIOR HIGH, THE CT CENTER AND HAGGARD, WHICH I THOUGHT TURNED OUT REALLY REALLY WELL.

>> NOW THAT I'M DONE WITH MY SOAP BOXING FOR THE EVENING, TRUSTEES.

IS THERE ANY FURTHER COMMENTS OR DISCUSSION ON THIS ITEM BEFORE WE CALL A VOTE? WE'LL CALL A VOTE. ALL THOSE IN FAVOR, PLEASE RAISE YOUR HAND.

I SEE SEVEN HANDS UP, THAT MOTION PASSES UNANIMOUSLY.

WE WILL NOW HEAR ITEM 8.3,

[8.3 Approval of the 2025 – 2026 District Improvement Plan, HB3 Goals (Including Early Childhood Literacy, Math and College, Career, and Military Readiness Goals) and Campus Improvement Goals]

APPROVAL OF THE 2025-2026 DISTRICT IMPROVEMENT PLAN, HOUSE BOTH THREE GOALS, INCLUDING EARLY CHILDHOOD LITERACY, MATH, AND COLLEGE, CAREER AND MILITARY READINESS GOALS, AND CAMPUS IMPROVEMENT GOALS.

I WILL INVITE LISA WILSON, DEPUTY SUPERINTENDENT FOR TEACHING AND LEARNING TO PLEASE PRESENT.

>> THANK YOU, PRESIDENT TYRA, SUPERINTENDENT WILLIAMS AND THE BOARD.

I'M EXCITED TO BRING TO YOU TONIGHT FOR APPROVAL, OUR FULL DISTRICT IMPROVEMENT PLAN, AND OUR CAMPUS IMPROVEMENT GOALS.

JUST AS A QUICK REMINDER, WE VISITED THE LAST TIME OR MAYBE A COUPLE A FEW MEETINGS AGO.

WE TALKED ABOUT THE WORK INCLUDED IN DISTRICT IMPROVEMENT PLANNING AND HOW WE CONNECT THAT ALL THE WAY FROM OUR STRATEGIC PLAN DOWN THROUGH OUR CAMPUS IMPROVEMENT PLANS AND ALL THE WAY DOWN TO THE CLASSROOM.

I HOPE THIS LOOKS FAMILIAR TO YOU AND WE MAKE THOSE CONNECTIONS FOR YOU.

THE PROCESS FOR OUR DISTRICT IMPROVEMENT PLAN REALLY BEGINS WITH A COMPREHENSIVE NEEDS ANALYSIS, LOOKING AT ALL THE DATASETS, ALL THE INFORMATION, IDENTIFYING WHAT OUR PROBLEM STATEMENTS ARE, WHAT THE ROOT CAUSE OF THOSE ARE, AND THEN WE BEGIN TO SET GOALS.

TWO MEETINGS AGO, YOU SAW SOME DRAFT GOALS THAT OUR TEAMS HAVE BEEN WORKING ON AND HAVE TAKEN TO OUR DISTRICT BASED IMPROVEMENT COMMITTEE FOR FINAL FEEDBACK.

WE HAVE TARGETS SET IN THAT PLAN.

WE'VE LOOKED AT THE STRATEGIES AND ACTION PLANS, WE BELIEVE ARE GOING TO LEAD US TO MEETING THOSE GOALS, AND OF COURSE, WE WILL CONTINUE TO ENGAGE IN PROGRESS MONITORING.

>> THEN EVEN THOUGH YOU SEE THESE IN SEQUENTIAL ORDER, IT'S ACTUALLY VIEW THIS IS A CYCLICAL PROCESS.