Pray for a shale oil boom
Voters in Cuero ISD approve $76 million bond issue
Nov 10, 2013 | 1750 views | 0 0 comments | 13 13 recommendations | email to a friend | print
Not all voters in ISDs across the state voted down bond issues on Nov. 5. The Cuero ISD just had 58 percent of its voters approve of an amount more than twice what Gilmer ISD was seeking. So, in the unlikely event that anyone in our readership is still feeling sorry for the Cuero Gobblers because they lost to the Gilmer Buckeyes in Huntsville four years ago, you can stop now. They don’t need your sympathy.

From the Victoria Advocate:

“Facilities in the Cuero school district have a bright future after voters approved a $76 million bond issue to build two new schools and an 80-seat fine arts center.

“‘We are appreciative and grateful that this need has been met,’ said Cuero Superintendent Jim Haley.

“‘I am excited for the opportunities our students will have and for the fulfillment of a dream come true for those who worked so hard on the fine arts facility.’”

“The bonds, which will likely be financed over 25 years, will pay for construction of two new elementary schools; renovations at the intermediate, junior high and high school; a new gymnasium; band hall and expanded seating at Gobbler Stadium.

“In addition, funding will now be available to install security, technology and energy conservation equipment throughout the district.

“The tax rate to pay off the new debt will increase by about 33 cents from its current 6 cents to 39 cents per $100 valuation.

“A property owner in the school district with a $100,000 home will see about a $330 annual increase in his or her tax bill at present values.

“‘As property values continue to rise throughout the district because of oil and gas exploration, the tax rate will likely decrease,’ Haley said.”

DeWitt County, of which Cuero is the county seat, is in the Eagle Ford Shale Play of South Texas. Drilling for oil, gas and condensate has been on a tear in recent years in that region of the state.

In August, the Railroad Commission reported that DeWitt County was No. 4 in crude oil production (2,621,996 barrels) of Texas’ 254 counties and No. 8 in gas production 14, 656,326 Mcf).

Voters in the nearby Yoakum school district approved issuing up to $50 million in bonds for projects that will build two gymnasiums, multiple classrooms and a science lab.
Comments
(0)
Comments-icon Post a Comment
No Comments Yet