Jan 13, 2025 Board of Trustees

[1. Call Meeting to Order]

[00:00:06]

>> GOOD EVENING. IT IS 5:32, AND I WOULD LIKE TO CALL TO ORDER A REGULAR MEETING OF THE BOARD OF TRUSTEES OF FRISCO ISD.

WE HAVE FIVE TRUSTEES PRESENT, AND WE WILL MOVE TO AGENDA ITEM 2,

[2. Closed Session under Texas Government Code Chapter 551, Subchapters D and E]

[3. Reconvene in Open Meeting]

>> [BACKGROUND] GOOD EVENING.

>> WE JUST GOT TWO EXTRA DAYS OUT OF SCHOOL.

WE ARE FINALLY BACK TOGETHER AGAIN.

GOOD EVENING, EVERYONE.

>> [BACKGROUND]GOOD EVENING.

>> THANK YOU SO MUCH.

I'M SO EXCITED TO BE BACK.

I'M HAPPY TO SEE ALL OF YOUR BEAUTIFUL SMILING FACES.

WE ARE RETURNING FROM OUR CLOSED SESSION, AND WE ARE GOING TO GO RIGHT INTO AGENDA ITEM NUMBER 3, WHICH IS RECONVENING TO OUR OPEN MEETING.

IT IS 6:40, AND WE WILL BEGIN WITH AGENDA ITEM NUMBER 4,

[4. Pledge of Allegiance ]

>> YES, PLEASE. CAN YOU HELP ME WELCOME THE [INAUDIBLE] SCHOOL.

THIS IS THE SWAT CLUB, WHICH IS SIMILAR TO STUDENT COUNCIL.

>>

>> NOW FOR THE TEXAS PLEDGE.

>>

>> GOOD JOB, GUYS. THANK YOU ALL FOR BEING WITH US TONIGHT.

[BACKGROUND] CAN SOMEONE PLEASE TELL ME WHO GIVES US THE HEE HA EVERY BOARD MEETING? WHO IS THAT? IT MAKES ME SO HAPPY. [LAUGHTER] THANK YOU.

NOW WE'RE GOING TO MOVE TO AGENDA ITEM NUMBER 5,

[5. Board Report]

TRUSTEES, DO YOU HAVE ANYTHING THAT YOU'D LIKE TO SHARE? I KNOW WE'RE JUST GETTING BACK, AND SO WE MAY NOT HAVE A LOT. MR. PONANGI.

>> I JUST WANTED TO MENTION THAT MYSELF ALONG WITH TRUSTEE HILL AND TRUSTEE SALAS, WE ATTENDED THE LEGISLATIVE POWER HOUR THAT WAS SET UP LAST WEEK BY NONE OTHER THAN OUR AMAZING FRISCO CHAMBER OF COMMERCE.

IT WAS SO NICE TO GET A GLIMPSE OF SOME OF THE IDEAS FROM SOME OF THE REPRESENTATIVES WHO ARE IN OUR AREA ABOUT THE 89TH LEGISLATIVE SESSION THAT'S STARTING FROM TOMORROW.

HOPEFULLY, WE'LL GET SOME POSITIVES.

OBVIOUSLY, BEING A SCHOOL BOARD TRUSTEE, MY GOAL WAS TO UNDERSTAND THE FUNDING FOR OUR SCHOOLS IN THE FORTHCOMING LEGISLATIVE SESSION.

THAT WAS MY INTEREST. BUT IT WAS VERY GOOD SESSION.

THANKS TO THE CHAMBER FOR HOSTING IT.

>> THANK YOU. MRS. SALAS.

>> YES, I'D JUST LIKE TO GIVE A HUGE SHOUT OUT TO ALL OF OUR CAMPUSES BECAUSE I WATCHED YOUR LOVELY VIDEOS TO HONOR AND SAY THANK YOU TO US, BOARD MEMBERS.

SOME OF THE CREATIVITY WAS SO AMAZING AND I REALLY ENJOYED LITERALLY WATCHING EVERY SINGLE ITEM THAT EACH CAMPUS OFFERED, AND I APPRECIATE THAT. THANK YOU SO MUCH.

>> THANK YOU. WE WOULD LIKE TO SAY THANK YOU TO ALL OF THE CAMPUSES THAT PARTICIPATED IN THE VIDEO PRESENTATION THAT WE WERE SENT VIA EMAIL TODAY.

SOME OF THE VIDEOS RANGED FROM OUR AMAZING KINDERGARTEN STUDENTS HOLDING UP SIGNS SHOWING US THAT THEY RECOGNIZE THEIR LETTERS AND NUMBERS ALL THE WAY TO DIGITAL SONGS THAT HAD OUR NAMES IN THEM.

I WAS REALLY THOROUGHLY IMPRESSED.

I WOULD LOVE TO KNOW WHO DID THAT.

I NEED THAT FOR BUSINESS MARKETING.

IT WAS AMAZING.

THANK YOU SO MUCH FOR LOVING ON US THE WAY THAT YOU ALL DID TODAY.

THE RECEPTION WAS ABSOLUTELY BEAUTIFUL.

THANK YOU TO OUR TEAM AND OUR STAFF.

YOUR RECOGNITION TO US TODAY WAS UNMATCHED.

THANK YOU. BOARD, WE'RE GOING TO MOVE TO AGENDA ITEM 6, WHICH IS RECOGNITION.

[6. Recognitions]

[00:05:04]

>> MR. WALDROP, AND MRS. DAVIS, WILL YOU JOIN US ON THE STAGE? [BACKGROUND] SPEAKING OF THE CHAMBER, YES.

GUYS, SO TONIGHT WE ARE GOING TO RECOGNIZE THE FRISCO CHAMBER OF COMMERCE.

WE HAVE A LOT TO TALK ABOUT WITH THE CHAMBER.

EACH YEAR, I WANT TO START WITH HOW THE FRISCO CHAMBER GOES ABOVE AND BEYOND TO ENSURE THAT OUR NEW TEACHERS FEEL WELCOMED.

THEIR ANNUAL NEW TEACHER WELCOME EVENT IS NOT JUST A WARM WELCOME, BUT AN OPPORTUNITY FOR EDUCATORS TO CONNECT WITH THE COMMUNITY, GAIN VALUABLE RESOURCES, AND FEEL INSPIRED AS THEY BEGIN THEIR JOURNEY WITH FRISCO ISD.

WE TRULY APPRECIATE YOUR DEDICATION IN MAKING SURE OUR TEACHERS KNOW HOW MUCH THEY'RE VALUED.

WE HAVE A FEW OTHER THINGS THAT WE DO WITHIN THE YOUNG ENTREPRENEURS ACADEMY, ONE THING THAT WE ALSO WANT TO HIGHLIGHT RIGHT NOW IS THE RAIL DISTRICT COMPETITION THAT YOU RECENTLY RAN.

YOU SET ASIDE $11,000 TO THE TOP THREE PTAS WHO TURNED IN RECEIPTS FOR SHOPPING IN THE RAIL DISTRICT, AND THOSE WERE IDENTIFIED BUSINESSES.

THEY'RE NOT ANNOUNCED YET. WE HAVEN'T COUNTED ALL THE RECEIPTS AND THEY HAVE UNTIL JANUARY 22ND TO TURN THEM IN.

IF YOU ARE A PTA MEMBER LISTENING TO THIS RIGHT NOW, YOU HAVE UNTIL JANUARY 22ND TO TURN IN THAT RECEIPT TO HELP YOUR PTA, BUT OVERALL, WE JUST REALLY APPRECIATE YOUR ADVOCACY, YOUR PARTNERSHIP.

I KNOW WE HAVE A FEW FRISCO ISD MEMBERS WHO GO ON THE LEADERSHIP EXCHANGE TRIP.

THANK YOU FOR YOUR CONTINUED SUPPORT AND YOUR PARTNERSHIP. WE APPRECIATE YOU GUYS.

[APPLAUSE] I FORGOT TO SHARE A PICTURE.

I ALWAYS FORGET TO SHARE THE PICTURE LATELY.

THESE ARE A COUPLE OF PICTURES FROM OUR NEW TEACHER BREAKFAST.

THAT'S MRS. DAVIS AND SHERRIE SALAS UP THERE AND SOME OF OUR NEW TEACHERS.

[BACKGROUND]

>> THANK YOU AGAIN TO OUR PARTNERS IN EDUCATION, OUR FRISCO CHAMBER OF COMMERCE.

I DON'T THINK WORDS CAN EXPRESS HOW MUCH THEY GIVE BACK WHEN IT COMES TO HELPING US TO PREPARE TO BEGIN OUR SCHOOL YEAR.

WE ARE GREATLY APPRECIATIVE OF ALL THAT YOU DO, CRYSTAL, YOU AND YOUR TEAM, AND WE LOOK FORWARD TO MANY MORE YEARS OF PARTNERSHIP. THANK YOU.

WELCOME, GIVE THEM A ROUND OF APPLAUSE.

[APPLAUSE] NOW WE WILL MOVE TO AGENDA ITEM 6B, RECOGNIZE WAKELAND HIGH SCHOOL GIRLS STATE VOLLEYBALL CHAMPS. [APPLAUSE]

>> THANK YOU, MADAM PRESIDENT. WE HAVE DEIDRA RUCKER, OUR ASSISTANT ATHLETICS DIRECTOR AT THE PODIUM, AND SHE IS GOING TO DO THE HONORS OF RECOGNIZING THESE OUTSTANDING LADIES ON QUAD AND ACCOMPLISHMENT.

>> GOOD EVENING, DR. WALDO, FRISCO ISD LEADERSHIP, AND DISTINGUISHED TRUSTEES.

TONIGHT, WE HAVE THE OPPORTUNITY TO RECOGNIZE THE FIRST VOLLEYBALL TEAM TO WIN A STATE CHAMPIONSHIP FOR FRISCO ISD.

THESE HIGH SCHOOL STUDENTS HAVE COMPETED IN ADVANCE THROUGH MULTIPLE ROUNDS OF THE PLAYOFFS TO REACH THE UIL STATE CHAMPIONSHIP.

IF YOU ARE A PARENT, GUARDIAN, SIBLING, GRANDPARENT, NEIGHBOR, OR FRIEND OF ONE OF OUR STUDENT ATHLETES, PLEASE STAND SO WE CAN GIVE YOU A ROUND OF APPLAUSE.

[APPLAUSE] THANK YOU.

ALSO JOINING US THIS EVENING, WE HAVE PRINCIPAL FROM WAKELAND HIGH SCHOOL, DR. DONNA EDGE.

[APPLAUSE] I TIMED THIS, SO I'LL BE LESS THAN THREE MINUTES.

WE ARE HERE TO CELEBRATE SOMETHING TRULY EXTRAORDINARY, THE LEGACY OF THE 2024 WAKELAND VOLLEYBALL TEAM.

LEGACY IS DEFINED AS THE LONG LASTING EVENT OF EVENTS THAT HAVE SHAPED US OR THE LIVES OF THE PEOPLE WHO INSPIRE US.

THIS YEAR, THIS TEAM HAS UNDENIABLY WRITTEN A CHAPTER IN HISTORY THAT WILL BE REMEMBERED FOR GENERATIONS TO COME.

THIS SEASON WAS NOTHING SHORT OF REMARKABLE.

WAKELAND PICKED UP WHERE THEY LEFT OFF LAST YEAR WITH AN UNRELENTING DESIRE TO ACHIEVE GREATNESS.

FINISHING THE DISTRICT TIE FOR FIRST WAS JUST THE BEGINNING.

FROM THERE, THIS TEAM EMBARKED ON AN UNFORGETTABLE PLAYOFF JOURNEY.

WAKELAND DEFEATED MEMORIAL, WALNUT GROVE, MESQUITE POTEET, LOVEJOY, ARGYLE, AND FINALLY,

[00:10:04]

[APPLAUSE] PLAYERS, YOU ARE TRAILBLAZERS.

YOU HAVE SET A STANDARD OF EXCELLENCE THAT WILL GUIDE THOSE WHO COME AFTER YOU.

YEARS FROM NOW, WHEN OTHERS STEP ON THAT COURT, THEY WILL REMEMBER WHAT THIS TEAM ACHIEVED AND BE MOTIVATED TO CARRY ON YOUR LEGACY.

TO THE WAKELAND AND FRISCO ISD COMMUNITY, THANK YOU FOR BEING THE BACKBONE OF THEIR SUCCESS.

YOUR SUPPORT REMINDS US THAT CHAMPIONSHIPS AREN'T JUST WON ON THE COURT, THEY'RE WON IN THE HEARTS OF PEOPLE WHO BELIEVE IN THEM.

THE LEGACY, WHICH WAS THEIR MOTTO OF THE 2024 WAKELAND VOLLEYBALL TEAM WILL FOREVER BE A SYMBOL OF WHAT IT MEANS TO STRIVE FOR GREATNESS AND ACHIEVE IT.

CONGRATULATIONS, WAKELAND, YOU'RE NOT ONLY JUST CHAMPIONS, YOU ARE HISTORY MAKERS.

NOW I'D LIKE TO INTRODUCE THE STATE CHAMPIONS.

HEAD COACH U'ILANI WOMBLE, [APPLAUSE] ASSISTANT COACHES ALLY COBB, RACHEL ROSS, AND TIFFANY WEISE.

[APPLAUSE] PLAYERS JALEAH BAUSS. IS SHE HERE? [APPLAUSE] BELLA BALLAS, [APPLAUSE] BREANNA CAGLE, [APPLAUSE] KYLYNN JACKSON, [APPLAUSE] YOUR STATE MVP, HANNAH LEE, [APPLAUSE] SARAH PFIFFNER, [APPLAUSE] AUBREE FERNANDEZ, [APPLAUSE] ALOHI BANDY, [APPLAUSE] BELLA WOOD, [APPLAUSE] MADDY CHEN, [APPLAUSE] EMERSON JONES, [APPLAUSE] MADISON FORST, [APPLAUSE] ABBY PARKINSON, [APPLAUSE] EMILY DUFRESNE, [APPLAUSE] SLOANE KENNEDY, [APPLAUSE] NICOLE CLARK, [APPLAUSE] ISABELLE SOMERS, [APPLAUSE] SARAH JACKSON, [APPLAUSE] AND NOY WUMBLE.

DR. WALDO, BOARD MEMBERS, AND THE ENTIRE FISCAL EDUCATIONAL COMMUNITY, THANK YOU FOR ALLOWING OUR FRISCO ISD ATHLETES AND COACHES TO BE RECOGNIZED FOR THEIR WORK, DEDICATION, AND ACCOMPLISHMENTS.

THANK YOU FOR MAKING THIS EXPERIENCE A REALITY FOR OUR STUDENTS.

YOUR COMMITMENT TO EXCELLENCE IS EVIDENT THROUGH THE ACCOMPLISHMENTS OF THESE YOUNG WOMEN.

AGAIN, CONGRATULATIONS TO WAKELAND HIGH SCHOOL, YOU'RE 2024 5A DIVISION 2 UIL VOLLEYBALL STATE CHAMPIONS. [APPLAUSE]

>> CONGRATULATIONS, ONCE AGAIN.

>> THANK YOU. [BACKGROUND]

>> BOARD, WE'LL MOVE TO AGENDA ITEM NUMBER 7,

[7. Invocation]

MRS. SALAS.

>> GOOD EVENING. BEFORE I BEGIN, I'D LIKE TO SAY I'M A NEWLY ELECTED TRUSTEE IN MAY AND THIS WILL BE MY FIRST INVOCATION.

I AM A CHRISTIAN. IT'S WHAT LEADS ME.

HOWEVER, I WANT TO ACKNOWLEDGE AND RECOGNIZE THAT OUR COMMUNITY IS MADE UP OF MANY BELIEFS.

GOING FORWARD, WHEN I AM DOING INVOCATION, I WILL PROVIDE A MOMENT OF SILENCE BEFORE I BEGIN MY PRAYER. LET'S BEGIN.

LORD, THANK YOU FOR THE EVENING AND ALL THE OPPORTUNITIES YOU HAVE PUT BEFORE US.

GOD, I PRAY, PLEASE GRANT US THE WISDOM AND THE COURAGE TO KNOW AND DO WHAT IS RIGHT, GOOD, AND TRUE.

MAY WE SPEAK OUT WITH YOUR WISDOM WHEN IT IS TIME TO SPEAK, AND I PRAY THAT YOU REMIND US TO PATIENTLY AND RECEPTIVELY TAKE THE TIME TO LISTEN WHEN NEEDED.

I AM REMINDED OF YOUR TWO GREATEST COMMANDMENTS, LOVE YOU, GOD, WITH ALL YOUR HEART, SOUL, AND MIND, AND STRENGTH, AND SECONDLY, TO LOVE OUR NEIGHBORS AS OURSELVES.

[00:15:03]

LORD, WE THANK YOU FOR THE PRIVILEGE OF SERVING FRISCO, AMEN.

>> THANK YOU, MRS. SALAS.

BOARD WILL MOVE TO AGENDA ITEM 8,

[8. Discussion regarding Defeasance/Redemption of Outstanding Debt and Bond Parameter Order]

>> SORRY, I HAD TO MAKE THAT A MOUTHFUL FOR YOU.

>> IT WAS, AND YOU GAVE ME A BIG WORD. [LAUGHTER]

>> I WOULD LIKE TO INVITE BRIAN GRUBBS WITH SAMCO CAPITAL MARKETS TO THE PODIUM.

YOU GUYS ALL KNOW BRIAN.

HE IS THE DISTRICT'S FINANCIAL ADVISOR.

HE'S GOING TO GIVE YOU A LITTLE PRESENTATION OVER TWO OF THE ACTION ITEMS THAT YOU GUYS HAVE ON YOUR AGENDA.

>> MEMBERS OF THE BOARD, APPRECIATE THE OPPORTUNITY TO BE HERE.

AGAIN, YOU'VE GOT TWO AGENDA ITEMS. ONE IS THE AUTHORIZATION FOR THE ISSUANCE OF BONDS, AND WE'LL TALK MORE SPECIFICALLY ABOUT WHAT TYPES OF BONDS.

YOU DO HAVE BONDS OUTSTANDING FROM A PRIOR ELECTION, BUT WE ALSO HAVE AND NEED AUTHORIZATION TO ISSUE REFUNDING BONDS, WHICH WILL REFINANCE OUTSTANDING BONDS TO LOWER INTEREST RATES AND SAVE THE TAXPAYERS' MONEY.

IN ADDITION, YOU HAVE A SECOND ACTION ITEM, WHICH WILL BE TO AUTHORIZE THE DEFEASANCE OF BONDS, WHICH WE'LL TALK MORE SPECIFICALLY IN A MOMENT.

THE BIG PICTURE BEHIND THE DEFEASANCE OF BONDS IS YOU'RE BASICALLY UTILIZING YOUR EXISTING INS FUND BALANCE AND EXCESS INS TAX COLLECTIONS TO RETIRE OUTSTANDING PRINCIPAL EARLY.

AGAIN, SAVING TAXPAYERS' INTEREST COSTS.

WITH THAT, WE'LL BEGIN WITH A LOOK AT YOUR OUTSTANDING DEBT SERVICE PROFILE.

THIS IS THE CHART YOU'VE SEEN FROM ME BEFORE.

THIS REPRESENTS THE DISTRICT'S OUTSTANDING TOTAL BOND PAYMENTS WITH THE DARK BLUE BARS REPRESENTING THE PRINCIPLE AND THE YELLOW BARS REPRESENTING THE INTEREST.

TWO THINGS I'LL POINT OUT HERE.

YOU DO HAVE AN OUTSTANDING PRINCIPAL BALANCE OF JUST OVER 2,185,000,000, BUT PLEASE NOTE THAT THE TOTAL PAYMENT BY DESIGN IS LEVEL WITH DROPS IN THE FUTURE.

WE'VE MAINTAINED THAT DEBT SERVICE PROFILE FOR A NUMBER OF YEARS SO THAT AS YOU'VE HAD THE NEED TO ISSUE BONDS TO CONTINUE ON WITH CONSTRUCTION, YOU WERE ABLE TO DO SO BECAUSE AS THE TAX BASE GROWS, YOUR PAYMENT WAS NOT.

ONE OF THE VERY IMPORTANT STATISTICS THAT WE TRACK IN ANY FINANCING FOR THE DISTRICT IS A LOOK AT YOUR OUTSTANDING PRINCIPAL BALANCE AS A PERCENTAGE OF YOUR TOTAL TAXABLE VALUE.

YOU CAN SEE TO THE TOP RIGHT, YOUR MOST RECENT CERTIFIED TAXABLE VALUE WAS JUST UNDER 70.7 BILLION.

IF YOU TAKE THE OUTSTANDING PRINCIPLE AS A PERCENTAGE OF THAT TAX BASE, YOU HAVE AN OUTSTANDING DEBT TO TAX BASE RATIO OF 3.09.

I'M GOING TO SHOW YOU HERE IN A MOMENT WHAT YOU'VE LOOKED LIKE HISTORICALLY.

>> QUICKLY. THE BOTTOM LINE HERE IS THAT AS YOUR TAX BASES CONTINUED TO GROW, EVEN THOUGH WE HAVE BEEN ISSUING BONDS, THIS STATISTIC HAS BEEN IMPROVING ANNUALLY.

THIS IS A VERY HEALTHY, VERY LOW LEVEL OF DEBT AS A PERCENTAGE OF YOUR OVERALL TAX BASE, WHICH IS A CREDIT POSITIVE, WHICH LEADS ME TO YOUR NEXT SLIDE.

ANYTIME THAT WE DO A DEBT ISSUANCE, WHETHER THAT'S FOR NEW CONSTRUCTION OR REFUNDING BONDS, WE DO SO WITH THE BONDS RATED AAA BASED ON THE PERMANENT SCHOOL FUND GUARANTEE.

YOUR ADMINISTRATION ALSO SPEAKS WITH TWO OF THE INDEPENDENT CREDIT RATING SERVICES, MOODY'S AND STANDARD & POOR'S.

YOU CURRENTLY HAVE VERY STRONG UNDERLYING CREDIT RATINGS, AA+ BY STANDARD & POOR'S AND AA1 BY MOODY'S.

TO PUT THAT IN PERSPECTIVE, YOU'VE GOT A CHART HERE THAT LISTS ALL OF THE OUTSTANDING UNDERLYING CREDIT RATINGS FOR TEXAS SCHOOL DISTRICTS.

THERE ARE ONLY SIX TEXAS SCHOOL DISTRICTS WITH A HIGHER UNDERLYING CREDIT RATING THAN FRISCO ISD.

THERE ARE SIX AA RATED, AUSTIN, GARLAND, HIGHLAND PARK, HOUSTON, PLANO, AND RICHARDSON.

THEN STANDARD & POOR'S DOES NOT HAVE A AA RATED ON A STANDALONE BASIS, SO YOU ARE IN THE HIGHEST CREDIT QUALITY.

YOU SHARE THAT RATING WITH 23 OTHER SCHOOLS IN THE STATE OF TEXAS.

THE BIG PICTURE HERE IS THAT WHEN YOU DO ISSUE BONDS REGARDLESS OF THE PURPOSE, IT'S A VERY SOUGHT AFTER TAX-EXEMPT BOND IN THE MARKET.

WE RECENTLY DID A COMPETITIVE SALE FOR BONDS THAT WERE REFINANCED TO SAVE YOU MONEY, AND I'LL SHOW YOU MORE OF THOSE SAVINGS.

BUT WHEN WE DID, WE HAD A TREMENDOUS AMOUNT OF INTEREST, TREMENDOUS AMOUNT OF BIDS, AND IT'S BECAUSE YOU HAVE THE AAA RATING AND YOU HAVE VERY STRONG UNDERLYING CREDIT RATINGS.

THIS IS A LOOK AT YOUR TAX-BASED HISTORY.

AGAIN, THIS IS A VERY IMPORTANT STATISTIC THAT WE LOOK AT, NOT ONLY WHEN WE'RE BUILDING OUR BOND MODELS, BUT SPECIFICALLY, WHAT WE'RE TALKING ABOUT DOING NOW IS LEVERAGING THAT TAX-BASED GROWTH SO THAT THOSE MONIES AS THEY COME IN BASED ON THE I&S TAX RATE THAT YOU HAVE LEVIED, THOSE ADDITIONAL MONIES CAN BE USED TO BASICALLY PAY DOWN OUTSTANDING PRINCIPLE.

[00:20:04]

THE NOMINAL VALUE IN GROWTH UNDER COLUMN 3, AS WELL AS THE PERCENTAGES UNDER COLUMN 4, YOU CAN SEE THAT YOUR TAX BASE HAS CONTINUED TO GROW EACH AND EVERY YEAR.

IN FACT, WHEN WE APPROACHED THE VOTERS LAST IN NOVEMBER IN THE 2018, WE WERE PROJECTING NEEDING 2-3 BILLION DOLLARS WORTH OF GROWTH IN THE TAX BASE TO GET THROUGH THAT AUTHORIZATION.

YOU CAN SEE JUST IN THE LAST THREE YEARS, YOU'VE GROWN AT OVER 8.5 BILLION LAST YEAR, FIVE BILLION, AND SEVEN BILLION, SO WELL ABOVE WHAT WAS PROJECTED WITH ANY OF YOUR PRIOR ISSUANCES.

THIS IS A LOOK AT YOUR INTEREST RATE MARKET.

AGAIN, THIS IS THE CHART THAT YOU'VE SEEN FROM ME BEFORE.

THIS IS A NATIONAL INDEX, UPDATES EVERY FRIDAY.

TO THE FAR RIGHT, YOU'LL SEE A 4.06%.

THAT IS WHAT UPDATED IN THIS INDEX LAST FRIDAY.

EVERY OF THE YELLOW DOTS REPRESENT MARKETS THAT THE DISTRICT HAS SOLD BONDS, WHETHER THAT'S BEEN BONDS FOR NEW CONSTRUCTION OR BONDS FROM REFINANCING.

TO THE FAR RIGHT, THAT MOST RECENT YELLOW DOT WAS A DECEMBER BOND REFINANCING OF BONDS THAT WERE SOLD IN A MARKET GOING BACK INTO 2014 WHERE WE HAD HIGHER INTEREST RATES.

WHAT OUR MOST RECENT FINANCING DID IS WE JUST REFINANCED BONDS THAT WERE SOLD BACK IN 2014, WE LOWERED THE INTEREST RATE, AND WE'VE SAVED THE DISTRICT INTEREST COST.

WE'VE DONE THAT A NUMBER OF TIMES OVER THE YEARS, WHICH I'LL POINT OUT HERE IN JUST A MOMENT.

THIS IS AN UPDATE OF WHERE YOU'RE AT WITH RESPECT TO YOUR BONDS THAT CAN BE ISSUED FOR NEW CONSTRUCTION.

WITH OUR LAST MOST RECENT BOND SALE, YOU EXHAUSTED THE ENTIRE 2014 AUTHORIZATION.

OF THAT 775 MILLION THAT WAS APPROVED, YOU DON'T HAVE ANY REMAINING BONDS AUTHORIZED TO SELL.

OUT OF THE 2018 ELECTION, YOU DO HAVE $32 MILLION REMAINING OUT OF THAT AUTHORIZATION.

BUT YOU CAN SEE THE HISTORY WITH EACH OF THE BOND SALES TO THE FAR LEFT.

WHAT I WANT TO POINT OUT IS THE FOURTH COLUMN OVER FROM THE LEFT, THE DEBT TO ASSESSED VALUE.

AS I MENTIONED PREVIOUSLY, YOUR STATISTIC RIGHT NOW IS AT 3.09% OUTSTANDING PRINCIPLE AS A PERCENTAGE OF YOUR TAX BASE.

IF YOU GO BACK TO 2014, WE WERE AT 7.19%.

IF YOU FOLLOW THAT COLUMN ALL THE WAY DOWN TO WHERE WE CURRENTLY ARE, AS YOU'VE ISSUED BONDS, BECAUSE YOUR TAX BASE HAS CONTINUED TO GROW, YOUR DEBT RATIO HAS ACTUALLY IMPROVED THROUGH EACH OF THESE ISSUANCES WITH BOTH THE 14 ELECTION AND THE 2018 ELECTION.

>> HEY, BRIAN, YOU KNOW I LOVE ME SOME DEBT TO ASSESS VALUE RATIOS.

>> EVERY DAY.

>> THIS ACTUALLY CAME UP IN ONE OF OUR BOARD WORKSHOPS A COUPLE OF WEEKS AGO, IF Y'ALL REMEMBER, AND Y'ALL HAD ASKED HISTORICALLY WHAT IT WAS, AND I JUST WANTED TO HIGHLIGHT THAT SINCE IT CAME UP IN ONE OF OUR WORKSHOPS.

>> IT IS AN IMPORTANT STATISTIC BECAUSE THIS IS ONE OF THE CONVERSATIONS THAT WE HAVE WITH MOODY'S AND STANDARD & POOR'S THAT LENDS ITSELF TO YOU SECURING THOSE VERY STRONG UNDERLYING RATINGS.

THEY LOOK AT THE HEALTH OF THE GENERAL FUND, THEY LOOK AT YOUR OUTSTANDING DEBT.

IT'S A VERY IMPORTANT STATISTIC THAT WE TRACK.

IT'S VERY UNCOMMON FOR A FAST GROWING SCHOOL DISTRICT TO BE ABLE TO ISSUE THE AMOUNT OF BONDS THAT YOU HAVE, BUT ALSO SEE THAT STATISTIC IMPROVE OVER TIME.

THIS SLIDE IS A LOOK AT YOUR BOND REFINANCING HISTORY.

AGAIN, SIMILAR TO HOW HOMEOWNERS REFINANCE THE HOME MORTGAGE, WHERE YOU LOCK IN AN INTEREST RATE MAYBE 10 YEARS PREVIOUSLY, INTEREST RATES FALL, YOU LOCK IN A LOWER INTEREST RATE TO SAVE AND LOWER PAYMENT FOR INTEREST COST SAVINGS.

THIS IS A LOOK AT THE HISTORY GOING BACK TO 2014 FOR THE DISTRICT.

IN TOTAL THEY'RE UNDER THE THIRD COLUMN, YOU CAN SEE AT THE BOTTOM.

THE DISTRICT THROUGH ITS BOND REFINANCING, HAS SAVED A LITTLE OVER 318,500,000.

THAT'S IN TRUE INTEREST COST SAVINGS BY LOWERING OUR OUTSTANDING INTEREST RATES AND REPLACING THEM WITH LOWER.

OUR MOST RECENT BOND REFINANCING WE COMPLETED IN DECEMBER OF THIS PAST YEAR, CLOSED THAT TRANSACTION LAST WEEK.

WE REFINANCED A LITTLE OVER 75.6 MILLION IN PRINCIPAL AND SAVED JUST UNDER 6.7 IN INTEREST COST.

THIS IS THE MOST RECENT FINANCING WHERE I SAID, WE COMPETITIVELY BID THOSE AND WE HAD A TREMENDOUS AMOUNT OF INTEREST NATIONALLY FOR OUR TAX-EXEMPT BOND MARKET.

THESE NEXT TWO SLIDES IS A LOOK AT OUR PLAN OF FINANCE FOR THE 2025 YEAR AT THIS POINT.

AGAIN, THE PARAMETER ORDER ITSELF ALLOWS YOU TO ISSUE NOT ONLY BONDS THAT WOULD EXHAUST THE 32 MILLION.

AT THIS POINT, WE DON'T HAVE ANY PLANS AT THIS POINT.

THAT'S NOT WHAT WE'RE HERE FOCUSING ON.

MORE IMPORTANTLY IN THAT PARAMETER ORDER, WE HAVE THE ABILITY TO ISSUE BONDS TO REFINANCE.

[00:25:04]

WHAT YOU'RE LOOKING AT HERE IS OUR ESTIMATE OF YOUR INTEREST IN SINKING FUND CASH FLOW.

STARTING AT THE TOP-RIGHT WITH YOUR INTEREST IN SINKING FUND BALANCE AS OF YOUR MOST RECENT AUDIT, JUNE 30TH, 2024, WHERE YOU HAD 141.6 MILLION DOLLAR OF EXISTING I&S FUND BALANCE.

WHAT WE THEN DO IS WE SUBTRACT OUT YOUR AUGUST BOND PAYMENTS THERE IN RED, TOTALING JUST OVER 93.8 MILLION.

ON AN AUGUST 31ST BASIS, AFTER WE MAKE OUR AUGUST PAYMENTS, GOING INTO THIS FISCAL YEAR '24 '25, WE'RE LOOKING AT ABOUT 47.8 MILLION OF I&S EXCESS FUND BALANCE.

WELL, THEN THE NEXT SECTION OF THAT SLIDE, WE GO IN AND WE ADD IN OUR ESTIMATE OF YOUR I&S TAX COLLECTIONS THAT YOU RECEIVE BASED ON YOUR 27 CENT LEVY AND YOUR TAXABLE VALUE CURRENTLY.

WE ALSO ADD IN 12.4 MILLION OF ESTIMATED HOLD HARMLESS FUNDS.

THESE ARE MONIES THE DISTRICT NOW GETS FROM THE STATE BECAUSE THEY RAISED THE HOMESTEAD EXEMPTION FROM 40,000 UP TO 100,000.

THOSE ARE MONIES THAT COME IN THAT WILL GO TO OUR I&S BUDGET.

WE THEN SUBTRACT OUT OUR FEBRUARY 15TH AND OUR AUGUST 15TH, 2025 PRINCIPAL AND INTEREST PAYMENTS.

OUR ESTIMATE AT THE END OF THIS FISCAL YEAR ON AN AUGUST 31 BASIS IS FOR US TO BE SOMEWHERE AROUND 68.5 MILLION.

GENERALLY SPEAKING, IF WE CAN KEEP AN I&S FUND BALANCE SOMEWHERE AROUND 15% OF OUR TOTAL BOND PAYMENT, YOU WOULD BE CONSIDERED HEALTHY.

WELL, YOU HAVE WELL ABOVE THAT.

IF I TOOK 15% OF YOUR TOTAL BOND PAYMENT, THAT COMES UP WITH JUST A LITTLE OVER 26 MILLION.

WHAT I'VE HIGHLIGHTED AT THE BOTTOM OF THE RIGHT IS IF WE ARE ESTIMATING THAT BY THE END OF THIS YEAR WE'LL HAVE 68.5 MILLION, WE REALLY ONLY NEED ABOUT 26, YOU'VE GOT EXCESS AVAILABLE TO USE TO RETIRE DEBT OF ABOUT 42.5 MILLION.

>> I HAVE A QUESTION REAL QUICK.

>> YES.

>> BECAUSE I LIKE KNOWLEDGE.

THAT 15%, WHERE IS THAT COMING FROM? WHO ESTABLISHES THAT IDEAL? HOW CONSERVATIVE IS IT? SPEAK TO THAT.

>> NO, THAT'S A GOOD QUESTION.

THE STATE, THE TA, AND OUR BOND RATING SERVICES FOCUS MORE ON YOUR GENERAL FUND BALANCE, WANTING YOU TO KEEP THE 2-3 MONTHS OF OPERATING THAT YOU HEAR, I'M SURE QUITE OFTEN.

WITH RESPECT TO THE I&S FUND BALANCE, IT'S NOT AS IMPORTANT TO THE RATING SERVICES BECAUSE YOU CAN ONLY USE THOSE MONIES TO MAKE A BOND PAYMENT.

YOU CAN'T TRANSFER IT TO USE ANYTHING ELSE.

GENERALLY SPEAKING, IF WE'RE SOMEWHERE AROUND A 10-15% THRESHOLD OF OUR MAXIMUM BOND PAYMENT, THAT IS CONSIDERED HEALTHY, NOT ONLY ON OUR END, BUT ALSO BY THE RATING SERVICES AS WELL.

WHAT I'M SUGGESTING IN TERMS OF AN AVAILABLE BALANCE KEEPS YOU ABOVE OR RIGHT AROUND THE 15% GOING INTO THE NEXT FISCAL YEAR BEFORE WE GET A LOOK AT THE NEXT GROWTH IN THE TAX BASE.

THIS WOULD BE A CONSERVATIVE AMOUNT IN TERMS OF USE OF EXISTING I&S FUND BALANCE.

OUR PLAN FOR 2025, AGAIN, AT THIS POINT, DOES NOT INCLUDE THE ISSUANCE OF THAT 32 MILLION.

THE ORDER ITSELF AUTHORIZES YOU TO DO SO BUT WHAT WE'RE FOCUSING ON IS TWO THINGS, AND THAT IS THE USE OF THE 42.5 MILLION OF EXCESS, WHERE WE WILL GO IN AND WE WILL BASICALLY USE THOSE MONIES TO FUND AN ACCOUNT THAT'S DEDICATED TOWARDS PAYING OFF PRINCIPLE ON YOUR OUTSTANDING BONDS.

THOSE OUTSTANDING BONDS COULD BE SOME OF YOUR OUTSTANDING TAX-EXEMPT BONDS, COULD BE SOME OF YOUR OUTSTANDING TAXABLE BONDS.

BUT WHEN WE FUND THAT ESCROW, THAT AMOUNT OF PRINCIPLE COMES OFF OF YOUR BOOKS.

INSTEAD OF THEM BEING REFINANCED AND REMAINING OUTSTANDING, ALL OF THAT INTEREST COST ASSOCIATED WITH THAT AMOUNT OF PRINCIPLE COMES OFF YOUR BOOKS.

WE'RE ESTIMATING THAT IN USING THE 42.5 MILLION, YOU COULD SAVE AN ADDITIONAL 35 MILLION OF INTEREST COSTS OVER THE LIFE OF THESE ISSUES.

SUBSTANTIAL AMOUNTS OF SAVINGS.

THE REASON THAT WE HAVE HISTORICALLY NOT DONE A DEFEASANCE IS BECAUSE WE HAVE HAD BONDS TO SELL OUT OF PRIOR AUTHORIZATIONS.

WE'VE WANTED TO MAINTAIN THOSE I&S FUND BALANCES THAT AS WE BRING ON NEW DEBT, WE ALLOW YOU TO MANAGE THE I&S TAX RATE ACCORDINGLY WITH THOSE EXCESS I&S FUNDS.

NOW WE'RE GOING TO BE ABLE TO USE A PART OF THAT TO PAY DOWN DEBT.

IN ADDITION, WHICH IS THE SECOND PART OF THE SLIDE, YOU DO HAVE BONDS THAT BECOME CALLABLE, ANOTHER SERIES OF BONDS THAT BECOME CALLABLE IN AUGUST OF 2025.

WE'RE LOOKING TO NOT ONLY REFINANCE THOSE AND LOWER THE INTEREST RATE ON THOSE BONDS THAT WERE SOLD IN 2015, BUT YOU ALSO HAVE THE ABILITY,

[00:30:02]

THE BONDS THAT WERE SOLD IN '15 ORIGINALLY SCHEDULED TO BE PAID OFF IN 2045.

WITH THIS BOND REFINANCING, INSTEAD OF JUST TAKING THE INTEREST COST SAVINGS, WE'RE ACTUALLY GOING TO SHORTEN UP AND PAY THIS OFF CONSIDERABLY EARLY FOR THIS SPECIFIC SERIES TO REDUCE THE INTEREST COST AS WELL.

THE BIG PICTURE PLAN IS THE DEFEASANCE THAT'S USE OF YOUR EXISTING FUNDS, IN ADDITION TO A REFINANCING THAT'S GOING TO ALLOW YOU TO SHORTEN, BOTH OF WHICH ARE GOING TO SAVE INTEREST COSTS TO THE TAXPAYERS.

>> QUICK QUESTION. IS YOUR APPROACH MORE OR LESS ON PICKING THE ONE WITH THE HIGHEST INTEREST RATE OR THE LONG-TERM PAYMENT PLAN, PAY BACK?

>> ABSOLUTELY. THAT'S A GOOD QUESTION.

WHEN WE GO AND WE ACTUALLY SET UP THE DEFEASANCE, WE WILL RUN THE MATH ON NOT ONLY THE TAX-EXEMPT CALLABLE BONDS, BUT ALSO THE TAXABLE, AND WE ARE GOING TO CHOOSE THE HIGHEST INTEREST RATE BONDS THAT ARE OUTSTANDING TO PAY OFF WITH THAT EXCESS MONIES NOW BECAUSE THAT'S GOING TO PROVIDE YOU WITH THE LARGEST AMOUNT OF INTEREST COST SAVINGS.

>> WE'VE BEEN INVOLVED IN THAT SELECTION, OR ARE YOU SAYING YOU'RE GOING TO MAKE A RECOMMENDATION, OR YOU JUST GOING TO PICK YOUR OWN?

>> WELL, ALL OF YOUR OUTSTANDING BONDS ARE CANDIDATES TO BE CHOSEN.

WE RUN THE ANALYTICS AND WE WORK WITH KIMBERLY AND HER GROUP AND WE DO RUN THE EVALUATIONS AND WE'LL WORK THROUGH AND THE NUMBERS OF WHICH MAKES THE MOST SENSE IN TERMS OF, AND WE'LL IDENTIFY TO THE DISTRICT, HERE'S THE ANALYTICS BEHIND THESE ARE THE ONES WE'VE SELECTED AND HERE'S WHY.

WE'LL ACTUALLY SHOW THE INTEREST COST SAVINGS BEFORE WE LOCK IN ANYTHING.

>> BUT NO, THE RESOLUTION THAT YOU'RE VOTING ON TONIGHT ALLOWS ME TO MAKE THAT DETERMINATION.

IT DOESN'T COME BACK TO THE BOARD TO SELECT WHICH BONDS GET PAID OFF.

>> RIGHT. JUST LIKE OUR TRADITIONAL PARAMETER ORDERS, WHERE WE PREVIEW THE AMOUNT OF BONDS THAT WE'RE SELLING OUT OF THE AUTHORIZATIONS, WE PREVIEW ANY REFINANCINGS, AND THEN THE DOCUMENTS THEMSELVES AUTHORIZE THE ADMINISTRATION TO EXECUTE THE FINAL TERMS. WHAT WE'RE DOING IS PREVIEWING THE DEFEASANCE.

WE'RE PREVIEWING THE REFINANCING, ASKING ANSWERING ANY QUESTIONS THAT YOU HAVE OF ME, AND THEN THOSE DOCUMENTS WILL AUTHORIZE THE ADMINISTRATION TO MOVE FORWARD WITH COMPLETION OF THE TAX SAVINGS MEASURES.

>> JUST TO ADD TO THAT TOO.

SIMILARLY, WHEN WE REFINANCE DEBT, THE CHOICE IN WHICH BONDS TO REFINANCE DOESN'T COME BACK TO THE BOARD.

THE BOND ORDER THAT BRIAN'S TALKING ABOUT THAT YOU GUYS ADOPT, IT'S GOOD FOR 12 MONTHS, AND IT ALLOWS US TO REFINANCE DEBT, ANYTIME WE CAN ACHIEVE INTEREST COST SAVINGS EQUAL TO OR BETTER THAN WHAT'S IN THAT PARAMETER ORDER.

THAT ALLOWS US TO ACT WHEN IT'S RIGHT VERSUS COMING BACK TO THE BOARD ANYTIME THAT WE WANT TO SELECT AND THEN THAT DRAWS OUT THE PROCESS AND THE MARKET COULD SHIFT.

>> THAT'S A GOOD POINT BECAUSE TO THE EXTENT THAT INTEREST RATE ENVIRONMENT MOVES AGAINST US TOMORROW AND WE CAN'T ACHIEVE THE TARGET LEVEL OF SAVINGS THAT WE'RE ESTABLISHING HERE IN THESE PARAMETER ORDERS, WE DO NOTHING.

THERE'S NO COST OF ANY REFINANCING.

WE CONTINUE TO MONITOR IT.

WE ONLY COMPLETE AND WE ONLY LOCK IN SOMETHING WHEN WE CAN ACHIEVE THE LEVEL OF SAVINGS THAT WE ARE TARGETING AND THAT ARE NOT LEGALLY IN THE DOCUMENTS THAT YOU'RE ADOPTING, BUT ALSO IN THE INFORMATION THAT WE'RE PREVIEWING TODAY.

>> I GUESS THIS QUESTION WILL SHOW TO YOU KIMBERLY.

WILL WE GET ANY REPORT AFTER THE FACT, TRUST YOUR OPINION ON IT, SAYING, THIS IS THE CHOICE AND ACTIONS THAT I TOOK?

>> YES. ANYTIME WE REFINANCE DEBT OR IN THIS CASE, IF WE PAY OFF DEBT EARLY, I ALWAYS PUT A REPORT ON HOME BASE AS SOON AS IT'S DONE, LETTING YOU GUYS KNOW THIS IS WHAT WE DID AND HOW MUCH WE SAVED.

>> OKAY.

>> THAT'S GOOD QUESTIONS. ANY OTHERS? YES. GO AHEAD.

>> JUST FOR THE BENEFIT OF OUR BUSINESS, I KNOW THE ANSWER BUT I WOULD LIKE YOU TO SHARE THAT THIS CANNOT BE USED FOR AMENDO OR ANY OTHER PURPOSES.

>> THAT'S CORRECT.

>> FORTY-TWO MILLION.

>> THAT'S RIGHT. THAT'S CORRECT.

>> THAT WAS GOING TO BE MY QUESTION.

THE MONEY FOR THE DEFEASANCE CAN ONLY GO TO PAY.

>> YES.

>> YES.

>> WE ARE ONLY USING EXISTING I&S FUNDS, WHICH ARE ONLY LEGALLY ALLOWED TO MAKE A BOND PAYMENT.

THERE WILL BE NO USE OF ANY GENERAL FUND MONIES OR ANYTHING ELSE, AND THIS IS EXCESS I&S FUND BALANCE THAT YOU CURRENTLY HAVE.

THIS DOES NOT IMPACT YOUR FISCAL YEAR '24 '25 I&S BUDGET IN TERMS OF MAKING YOUR PAYMENTS.

THIS IS ABOVE AND BEYOND TO USE TO PAY DOWN EXISTING PRINCIPAL.

>> ONE THING I'LL ADD TO THAT REAL QUICKLY BECAUSE IT CAME UP IN ONE OF OUR ONE-ON-ONE BUDGET MEETINGS THAT WE HAD RECENTLY.

THIS MONEY ALSO CANNOT BE USED TO FUND CAPITAL PROJECTS THAT MAY HAVE BEEN IN THE '24 BOND PROGRAM THAT DIDN'T PASS.

WE CAN'T USE THIS TO FUND ANY CONSTRUCTION.

[00:35:02]

>> MR. GROSS, I HAVE A QUESTION.

CAN YOU GO BACK TO THE SLIDE THAT HAD THE LIST OF STANDARD & POOR'S AND MOODY'S? THERE IT IS.

SORRY, GO TO THE NEXT ONE. SORRY. THERE WE GO.

WHAT CHARACTERISTICS DOES FISD LACK THAT DOESN'T GET US INTO THOSE SIX THAT HAVE THE AAA UNDER MOODY'S?

>> THAT'S A FAIR QUESTION. WHAT HAS BEEN COMMUNICATED TO ME FROM THE RATING SERVICES, OBVIOUSLY, STANDARD & POOR'S DOESN'T HAVE A AAA RATING, I DON'T ANTICIPATE THAT THEY EVER WILL BASED ON THEIR OWN INTERNAL METHODOLOGIES FOR WHICH THEIR CRITERIA.

WHAT HAS BEEN COMMUNICATED TO ME WHEN ASKING THAT VERY QUESTION IS FRISCO ISD IS NOT DONE GROWING.

YOU GET INTO AN AUSTIN, HIGHLAND PARK, PLANO, RICHARDSON, THEY ARE GROWING, BUT NOT FROM A STANDPOINT OF CONTINUAL DEVELOPMENT RESIDENTIALLY AND OR COMMERCIALLY.

>> I THINK UNTIL WE GET TO THAT POINT WHERE WE'RE BUILT OUT USING THEIR TERMS, WE WILL LIKELY REMAIN AT THE AA1.

>> THE LARGE DEBT NUMBER NOT WITHSTANDING THE LOW DEBT TO ASSESSED VALUE SEEMS EXCEEDINGLY HEALTHY.

>> IT IS.

>> I GUESS THE OTHER POINT HERE IS WE'RE LOOKING AT A COUNTER OF 334 DISTRICTS HERE ON THAT ONE LIST.

OBVIOUSLY, THERE ARE SOME THAT MAY NOT HAVE ANY DEBT.

>> THAT'S CORRECT.

>> MAYBE IT'S BECAUSE THEY'RE NOT GROWING AT ALL OR WHATEVER, AND SO I GET IT.

I WAS JUST CURIOUS HOW WE MIGHT BE ABLE TO BETTER IDENTIFY WHAT IT IS.

>> YOU FARE VERY WELL IN ALL OF THE METHODOLOGY COMPONENTS THAT YOU CAN CONTROL WITH RESPECT TO THE OPERATIONS ON THE GENERAL FUND SIDE, WITH RESPECT TO THE AMOUNT OF DEBT THAT YOU ISSUE, ALL THE OTHER FACTORS.

THE FACTORS THAT ARE OUT OF YOUR CONTROL IS THAT CONTINUED TAX BASE GROWTH AND THE AMOUNT OF LAND THAT YOU HAVE THAT IS STILL OUT THERE AND AVAILABLE FOR DEVELOPMENT WHEN COMPARED TO THE SIX OTHER DISTRICTS WHERE THEY ARE PREDOMINANTLY BUILT OUT.

>> HOW IS THAT A NEGATIVE THOUGH?

>> IT'S NOT NECESSARILY A NEGATIVE.

IT'S JUST A FACTOR THAT THEY INCLUDE IN THEIR EVALUATION, KNOWING FULL WELL THAT WE STILL HAVE SOME RAW LAND OUT THERE AND WE PUT IN RESIDENTIAL NEIGHBORHOODS.

WELL, THAT'S GOING TO IMPACT THE NUMBER OF STUDENTS THAT YOU THEN HAVE TO OPERATE.

UNTIL WE GET TO THE POINT WHERE WE'RE NOT AS A SCHOOL DISTRICT HAVING TO CONTINUE TO EVALUATE OUR DEMOGRAPHICS AND OUR ENROLLMENT GROWTH AND SO FORTH, WHICH YOU ALWAYS CONSTANTLY WILL, BUT NOT AT THE PACE THAT YOU HAVE HISTORICALLY HAD TO.

ONCE WE GET TO THAT POINT, I DO THINK THAT THERE WILL BE PRESSURE TO ELEVATE FRISCO ISD UP TO THE AAA CATEGORY.

>> I THINK ONE OF THE THINGS I'VE ALWAYS INFERRED FROM IT IS, THESE DISTRICTS ALL FULLY DEVELOPED 30 OR 40 YEARS AGO AND EVERYTHING'S KNOWN.

THERE ARE STILL A FEW UNKNOWNS IN OUR DISTRICT, AND THAT'S, I THINK KEEPING US FROM HAVING THAT IS WHAT I'VE ALWAYS INFERRED IN THIS CONVERSATION TOO.

>> CAN I ASK IT THIS WAY, I THINK, AND THEN YOU TELL ME IF THIS IS THE WRONG IDEAL.

BASICALLY, WHAT'S KEEPING US FROM THAT LEVEL IS A BROAD APPLICATION OF RISK FROM THESE PARTICULAR PEOPLE THAT ARE APPLYING IT VERSUS A REFLECTION OF OUR FINANCIAL BEHAVIOR, RIGHT?

>> ABSOLUTELY, YEAH. WHAT YOU'RE DOING, AGAIN, THAT YOU CAN CONTROL WITH RESPECT TO THE FINANCES IS OUTSTANDING IN THEIR EYES.

>> IT'S JUST A BROAD THING AND THAT MAKES SENSE.

I JUST WANTED TO MAKE SURE THAT I WAS UNDERSTANDING.

>> BECAUSE THEY DON'T KNOW SOME OF THE LAND THAT YOU HAVE WHEN IT GETS TURNED OVER, IS IT GOING TO BE FOR RESIDENTIAL? IS IT GOING TO BE COMMERCIAL? THOSE ARE QUESTIONS THAT YOU DON'T NECESSARILY EVEN KNOW AS A DISTRICT YOURSELF.

AS YOU CONTINUE TO BUILD OUT AND CONTINUE TO DEVELOP THOSE PROPERTIES, THE RATING SERVICES KNOW THAT YOU HAVE TO MANAGE THAT WITHIN YOUR GENERAL OPERATING BUDGET AS STUDENTS CONTINUE TO MOVE IN.

>> LET ME JUST HIT THIS FORCE ONE MORE TIME.

>> GO AHEAD.

>> I DON'T KNOW IF AT THIS POINT, WHAT REDUCTION OR WOULD WE GAIN BY MOVING UP ONE EXTRA LEVEL.

I'M LOOKING AT IT FROM 840-850 CREDIT SCORE.

ONCE YOU MAXED OUT ON WHAT YOU CAN ACHIEVE, THE BANK IS NOT GOING TO GIVE YOU THAT MUCH OF A LOWER RATE.

I GUESS THE QUESTION WOULD BE BY MOVING UP, GOING INTO THIS WITH THESE TOP SIX PRIME, WOULD IT MAKE THAT MUCH OF A DIFFERENCE IN THE INTEREST RATE OR IT REALLY WOULDN'T?

>> YES.

IT'S A MINIMAL IMPACT, IF ANY.

THE BONDS THAT WE'RE SELLING ARE ALREADY AAA BASED ON THE PERMANENT SCHOOL FUND.

>> THAT'S WHAT I THOUGHT.

>> WE'RE ALREADY AT THE TWO HIGHEST AA UNDERLYING CREDIT RATINGS.

IF WE WERE TO BE ONE OF WHAT WOULD BECOME SEVEN DISTRICTS IN THE AAA RATED,

[00:40:03]

[BACKGROUND] BUT WE DO STRIVE, AND WE'RE GOING TO CONTINUE TO PUSH THE CREDIT RATING SERVICES BECAUSE THE BETTER STORY THAT WE HAVE TO TELL THE INVESTORS WHEN THEY DO GO BUY THOSE BONDS IN OUR UNDERLYING CREDIT RATINGS, WHICH YOU'VE HAD HISTORICALLY, A GREAT STORY TO TELL, WHICH HAS ALLOWED YOU TO BORROW AT VERY LOW INTEREST RATES.

WE'RE GOING TO KEEP PUTTING AS MUCH PRESSURE AS WE CAN ON THOSE RATING SERVICES TO TRY TO ELEVATE THAT.

>> THAT'S HELPFUL. IT GIVES SOME CONTEXT TO KEITH'S POINT ABOUT THE MINIMAL CHANGE.

ONE THING I'VE LEARNED ABOUT BEING ON THIS BOARD IS WE DON'T REALLY DO ANYTHING SMALL.

[LAUGHTER] WE'RE VERY LARGE.

FRACTIONS OF A POINT, THEY MATTER MORE TO US THAN OTHERS.

BUT IT IS GOOD TO KNOW THAT WE'RE ALREADY IN THE TOP SHELF AND AND IT WOULD BE MARGINAL.

I APPRECIATE THE CONTEXT.

>> ONE OF THE OTHER CREDIT POSITIVES IS IN THE ABSENCE OF ISSUING BONDS FOR OUR NEW CONSTRUCTION, COMPLETING BOND DEFEASANCES, AND COMPLETING REFINANCINGS WHERE YOU'RE LOWERING THAT DEBT BURDEN AND YOU'RE REDUCING INTEREST COSTS.

THE NEXT TIME WE TALK TO THE CREDIT RATING SERVICES, THEY'RE GOING TO SEE, IN THE INTERIM, WE'VE TAKEN OFF A SUBSTANTIAL AMOUNT OF OUTSTANDING PRINCIPAL WITH EXISTING FUNDS, AND THOSE ARE CREDIT POSITIVES ALSO.

>> I MAY BE GETTING A LITTLE AHEAD OF MYSELF IN ANTICIPATION OF OUR CAPITAL PROJECTS WORKSHOP LATER THIS WEEK, BUT WILL THERE BE A PLAN PRESENTED OR SHARED WITH THE BOARD REGARDING THE REMAINING 2018 BOND FUNDS AND A PLAN FOR POTENTIALLY USING THOSE?

>> YES, ABSOLUTELY. THAT IS THE PURPOSE OF THE WORKSHOP ON THURSDAY.

YOU GUYS WILL GET A FULL BREAKDOWN OF THAT.

>> THANK YOU.

>> ANY OTHER QUESTIONS? ALL RIGHT.

THANK YOU ALL FOR YOUR TIME.

>> THANK YOU, MR. GRUBBS. WE'RE SO THANKFUL THAT YOU CAME TODAY TO GIVE US ALL OF THE INFORMATION THAT IS NECESSARY FOR US TO MOVE FORWARD WITH OUR BOND SALES.

THANK YOU. NO PUN, MR. GRUBBS, BUT NOW WE'RE GOING TO MOVE TO THE AGENDA ITEM THAT WE'VE ALL BEEN WAITING FOR.

AGENDA ITEM NUMBER 9, FUTURE-READY CAMPUS SPOT.

[9. Future Ready Campus Spotlight]

>> I DON'T KNOW, BUT I JUST CLICKED.

>> AMANDA AS YOU'RE GETTING READY, I'LL INTRO YOU REAL QUICK.

FIRST OF ALL, IF YOU'RE FROM COMSTOCK AND YOU'RE HERE TO SUPPORT YOUR PRINCIPAL AMANDA DALTON AND STAND UP, LET YOU SELF BE RECOGNIZED.

WE'LL CLAP FOR YOU. FREE OF CHARGE, YOU GOT A COMPLETE FINANCIAL LESSON THAT YOU PROBABLY DID NOT KNOW THAT YOU WERE GOING TO GET.

>> HOPEFULLY INSPIRING OUR STUDENTS WHO ARE HERE TONIGHT TO PURSUE ACCOUNTING. I'M AMANDA DALTON.

I'M THE PRINCIPAL AT COMSTOCK ELEMENTARY, AND I'M REALLY EXCITED TO TALK TO YOU GUYS ABOUT THE THINGS WE'RE DOING TO SET THE STAGE FOR FUTURE-READY LEARNING AT COMSTOCK.

LIKE COREY SAID, OUR STAFF IS HERE AND EVEN SOME OF OUR STUDENTS, I HOPE WE'RE NOT KEEPING YOU UP PAST YOUR BEDTIME, GUYS.

BUT THANK YOU SO MUCH YOU GUYS FOR COMING.

IT REALLY MEANS A LOT. THANK YOU.

FOR US, IT BEGINS WITH COMSTOCK LEADERSHIP AND REALLY WHAT WE'RE DOING AS LEADERSHIP IS WHAT'S INFLUENCING OUR STAFF AND OUR STUDENTS.

I'M GOING TO TALK TO YOU GUYS ABOUT A COUPLE OF THE COMPONENTS OF THE PROFILE OF A FUTURE-READY LEADER AND THE THINGS WE'RE DOING AT COMSTOCK TO SET THE STAGE FOR FUTURE-READY LEARNING.

THE FIRST ONE IS MODEL, AND WE SEE EVERY INTERACTION AS AN OPPORTUNITY TO MAKE A POSITIVE IMPACT.

THAT'S WHY WE AS A LEADERSHIP TEAM MODEL EVERYTHING WE DO, WE HAVE PURPOSE AND INTENTION BEHIND THE THINGS WE'RE DOING, AND WE'RE MODELING ALL THE THINGS THAT WE WANT THE TEACHERS TO THEN DO WITH THE STUDENTS.

WE EVEN START BY MODELING OUR CORE BELIEFS, WHICH ARE BE BRAVE, BE KIND, BE EXCELLENT.

BECAUSE EXAMPLE IS NOT THE MAIN THING IN INFLUENCING OTHERS, IT IS THE ONLY THING.

AN EXAMPLE OF WHAT WE DO FOR MODELING IS THAT WE CREATE EXPERIENCES FOR OUR TEACHERS SO THAT THEY CAN THEN IN TURN USE THOSE IDEAS IN THE CLASSROOM WITH THEIR KIDS.

AT THE BEGINNING OF THE YEAR FOR OUR PROFESSIONAL LEARNING, WE DID SOMETHING CALLED CHOOSE YOUR OWN ADVENTURE.

WE HAD SOME OF OUR LEADERSHIP TEAM LEAD BREAKOUT SESSIONS, AND ALSO SOME OF OUR TEACHERS WHO HAVE EXPERTISE IN CERTAIN AREAS LEAD BREAKOUT SESSIONS.

WHAT THIS DID IS IT GAVE OUR TEACHERS CHOICE, VOICE,

[00:45:01]

I THINK MY PICTURE DISAPPEARED ON THIS SLIDE.

LET ME SEE IF IT COMES BACK.

KIMBERLY, CAN YOU HELP ME? I THINK SHE KNOWS HOW TO.

YEAH, THERE WE GO. THANK YOU.

IT MIGHT HAPPEN ON THE NEXT ONE TOO.

CULTIVATING RELATIONSHIPS IS VERY IMPORTANT TO US AS A LEADERSHIP TEAM.

WE BELIEVE IN THIS QUOTE, THE PLATINUM RULE: TREAT OTHERS THE WAY THEY WANT TO BE TREATED, NOT THE WAY YOU WANT TO BE TREATED.

WE REALLY MAKE IT A POINT TO KNOW OUR STAFF.

WE DO STRENGTH FINDERS AND ENNEAGRAM WITH THEM, SO THEY CAN KNOW THEMSELVES, THEY CAN KNOW THEIR TEAMMATES AND ALSO THAT THEY CAN KNOW THE LEADERSHIP TEAM.

FOR US, AS A LEADERSHIP TEAM, WE INVEST THE TIME TO GET TO KNOW EACH TEACHER INDIVIDUALLY, AND THAT HELPS US SO THAT WE KNOW HOW WE CAN SUPPORT THEM AND ALSO HOW TO CELEBRATE THEM.

SOME PEOPLE WANT TO BE CELEBRATED PUBLICLY, SOME PEOPLE DO NOT.

WE KNOW THAT ABOUT OUR STAFF.

AN EXAMPLE OF CULTIVATING RELATIONSHIPS IS THAT THIS YEAR, I REALIZE WE DO GOAL SETTING AT COMSTOCK, WHERE KINDER THROUGH FOURTH, TEACHERS ARE GOAL SETTING WITH KIDS ONE ON ONE, AND THEN THE LEADERSHIP TEAM GOAL SETS WITH ALL OF THE THIRD AND FOURTH GRADE STUDENTS.

BUT THE TEACHERS WEREN'T HAVING THAT EXPERIENCE LIKE THE STUDENTS WERE.

I WANTED THEM TO HAVE THAT PERSPECTIVE OF SITTING ACROSS THE TABLE AND DOING GOAL SETTING THEMSELVES.

THIS YEAR, I'VE ADDED WHERE I'M GOAL SETTING WITH EACH TEACHER.

WE SIT DOWN AND TALK ABOUT THEIR STRENGTHS AND THEIR ENNEAGRAM AND HOW THOSE STRENGTHS CAN HELP THEM MEET THEIR GOALS.

WE SET AN ACADEMIC GOAL, AND THEN ALSO THEY ARE SETTING A GOAL BASED ON ONE COMPONENT FROM THE FUTURE-READY PROFILE OF A EDUCATOR.

THEY WRITE A COMMITMENT AND THEIR NEXT STEPS, AND WE TALK ABOUT HOW I CAN SUPPORT THEM.

BECAUSE FOR A LEADER, THAT HELPS ME TO KNOW WHAT DO THEY VALUE? WHAT ARE THEY COMMITTED TO, AND HOW CAN I PERSONALIZE MY SUPPORT? THAT IN TURN IS WHAT THEY'RE DOING WITH EACH ONE OF THEIR STUDENTS WHEN THEY'RE SITTING DOWN WITH THEM.

I WANTED THEM TO HAVE THAT EXPERIENCE OF KNOWING WHAT IT'S LIKE FOR SOMEONE TO SIT WITH THEM AND GOAL SET WITH THEM AND TAKE THAT TIME.

THAT'S SOMETHING I'M REALLY EXCITED THAT THEY'RE GETTING TO HAVE THAT EXPERIENCE.

THEN LEVERAGING, RECRUITING, RETAINING, AND TRAINING IS VERY IMPORTANT TO US.

WE HAVE A VERY STRONG CULTURE AND VERY, VERY STRONG VALUES AT COMSTOCK.

I SEE SOME PEOPLE NODDING AND SMILING.

IF YOU'VE EVER BEEN TO OUR SCHOOL, YOU KNOW AS SOON AS YOU WALK IN, YOU FEEL THE WARMTH, YOU'RE GOING TO GET SOME HUGS FROM KIDS.

SOME KIDS MAY EVEN TELL YOU THEY LOVE YOU, RIGHT DR. LINTON? THAT'S JUST WHO WE ARE.

WE WORK REALLY HARD AS A LEADERSHIP TEAM TO BUILD BALANCE TEAMS, AND WE REALLY THINK ABOUT EACH PERSON ON THAT TEAM AND WHAT THEIR STRENGTHS ARE.

WHEN WE'RE HIRING, WE KNOW EXACTLY WHAT WE'RE LOOKING FOR.

BUT NOT ONLY THAT, WE ALSO, WHAT WE DO IS WE LET THE CANDIDATE KNOW WHO WE ARE AND WE TELL THEM IN THAT INTERVIEW PROCESS, WHAT ARE OUR CORE VALUES, WHAT ARE OUR EXPECTATIONS, AND WHAT IS IT LIKE TO BE A PART OF OUR COMMUNITY.

BECAUSE IF YOU CHOOSE TO WORK AT COMSTOCK, YOU ARE ALL IN.

YOU ARE PART OF OUR FAMILY IMMEDIATELY.

WE WANT TO MAKE SURE THAT THEY'RE ON BOARD WITH THAT.

AN EXAMPLE OF THAT IS WE JUST HIRED A DECEMBER GRADUATE, SHE STARTED LAST WEEK.

BEFORE SHE EVEN STARTED, SHE HAD THE OPPORTUNITY TO COME AND SHADOW HER TEAMMATES, AND ALSO THEY STARTED TEXTING HER AND REACHING OUT TO HER AND GETTING TOGETHER WITH HER TO BUILD THAT RELATIONSHIP IN THAT TRUST.

WE INVITED HER TO COME BE A PART OF OUR CHEER SQUAD FOR OUR KICKBALL TEAM. I SEE SOME PEOPLE.

WE HAVE A STAFF KICKBALL TEAM AND WE ASKED HER TO COME BE A PART OF THE CHEER SQUAD AND WE MADE SURE SHE HAD A COMSTOCK SHIRT AND THAT SHE FELT A PART OF OUR COMMUNITY.

THOSE ARE SOME THINGS WE'RE DOING AS LEADERS.

BUT I ALSO WANT TO TALK TO YOU GUYS ABOUT THINGS THAT THE TEACHERS ARE DOING TO SET THE STAGE FOR FUTURE-READY LEARNING.

I COULD GO ON AND ON.

THIS IS THE MOST INCREDIBLE STAFF I HAVE EVER WORKED FOR.

THEY INSPIRE ME EVERY DAY.

I'M EXCITED TO SHARE SOME OF THE THINGS, NOT EVERYTHING, BUT SOME OF THE THINGS.

WE BELIEVE IN CULTIVATING A CULTURE OF LEADERSHIP, AND THAT IS SO IMPORTANT TO US THAT SOME OF OUR TEACHERS, OUR MUSIC TEACHER, AND OUR LIBRARIAN,

[00:50:02]

WE HAVE THREE OF THEM HERE WITH US TONIGHT.

WE HAVE CALEB, SANJANA, AND COOPER.

WHAT THESE INCREDIBLE STUDENTS DO IS THEY MODEL LEADERSHIP TO OUR ENTIRE CAMPUS.

THESE KIDS RUN ALL OF OUR ASSEMBLIES, ALL OF THEM.

THE GREAT THING IS EVEN AT THE END, WHEN WE SING OUR SCHOOL SONG, COOPER PLAYS THE GUITAR TO LEAD US OUT IN OUR SCHOOL SONG, EVERY ASSEMBLY.

THEY REALLY ARE LEADING US AND SHOWING US RESPONSIBILITY, AND I AM SO PROUD OF THEM.

THEY ALSO ARE IN CHARGE OF OUR LOST AND FOUND BECAUSE WE TAKE CARE OF THIS PLACE.

THAT'S ONE OF OUR RULES.

THEY MAKE SURE THAT OUR LOST AND FOUND IS ORGANIZED.

THEY ALSO DO SCHOOL TOURS FOR NEW STUDENTS AND VISITORS, AND WE HAD MR. HILL AND DR. LINTON COME VISIT US A COUPLE OF WEEKS AGO, AND COOPER AND SANJANA TOOK THEM ON A TOUR OF OUR SCHOOL.

WE HAVE A BOOKLET THAT HAS PICTURES OF PEOPLE THAT A NEW STUDENT WOULD NEED TO GET TO KNOW, LIKE THE OFFICE STAFF, AND THE SPECIALS TEACHERS AND THE LIBRARIAN.

THEY TOOK THEM ALL AROUND AND COOPER HAD A SURPRISE FOR THEM WHEN WE GOT TO THE MUSIC ROOM, AND HE PULLED OUT HIS GUITAR AND PLAYED FOR THEM.

I HOPE THEY ENJOY THAT.

THAT'S SOMETHING WE'RE REALLY PROUD OF.

THEN LEVERAGING RELATIONSHIPS IS KEY TO SUCCESS.

IT IS THE MOST IMPORTANT THING FOR OUR TEACHERS.

THEY INVEST SO MUCH TIME IN BUILDING RELATIONSHIPS WITH KIDS.

THEY HAVE CLASS MEETINGS EVERY MORNING, BUT THEY ALSO HAVE A CLOSING CIRCLE AT THE END OF THE DAY THAT THEY'VE ADDED, WHERE THEY COME TOGETHER AND TALK ABOUT HOW THINGS WENT FOR THE DAY, WHAT MAYBE SOME THINGS THEY NEED TO CHANGE AND GOALS THAT THEY MIGHT NEED TO SET.

THEN WE ALSO HAVE OUR COUNSELOR WHO WAS NEW LAST YEAR, AND SHE MET WITH OUR STAFF AND THEY SHARED NEEDS THAT STUDENTS HAVE AND THEY TALKED ABOUT WHAT ARE SOME THINGS THAT WE COULD DO TO HELP THOSE STUDENTS.

SHE CREATED WHERE WE HAVE OUR OWN MENTORING PROGRAM WITH EMERSON KIDS.

THAT'S OUR FEEDER PATTERN IS EMERSON.

THOSE KIDS COME OVER EVERY WEEK, AND I'M TELLING YOU IT IS MAKING A HUGE POSITIVE IMPACT ON COMSTOCK KIDS.

THEN THE NEXT ONE IS SOMETHING I'M REALLY PROUD OF.

FIRST GRADE TEAM, THEY WENT BEYOND JUST OUR SCHOOL COMMUNITY TO LEVERAGE A RELATIONSHIP.

WE HAVE A FIRST GRADE STUDENT WHOSE COUSIN IS A AVIATION STUDENT, TO BE A PILOT, AND THEY ASKED HER TO COME.

SHE DID A PRESENTATION FOR THE KIDS AND THEY DID A PROJECT.

WHAT THIS DID IS IT SHOWED OUR KIDS A REAL WORLD CAREER THAT THEY CAN CHOOSE.

I DON'T KNOW IF YOU GUYS KNOW THERE IS A SHORTAGE OF PILOTS.

THIS IS SOMETHING WHERE THERE'S A NEED.

THEY GOT TO SEE SOMEONE WHO'S PURSUING THAT AND HEAR ABOUT HER STEPS AND HER GOALS AND KNOW, HEY, MAYBE I COULD DO THAT TOO.

SOME OF THEM MAY NOT HAVE EVEN KNOWN ABOUT THAT CAREER, AND NOW IT MIGHT BE SOMETHING THEY PURSUE.

THEN BECAUSE OF THE TRUST AND THE RELATIONSHIPS THE LEADERSHIP TEAM HAS BUILT WITH THE STAFF, AND THE STAFF AMONGST THEMSELVES, THEY FEEL EMPOWERED TO DESIGN INNOVATIVE EXPERIENCES.

I'M GOING TO SHARE SOME OF THESE, BUT I WANT A TO THINK BACK TO, SOME OF Y'ALL MIGHT BE A LITTLE YOUNGER THAN ME, BUT THINK BACK TO WHEN YOU WERE IN SCHOOL AND THE EXPERIENCES YOU REMEMBER WHEN YOU WERE A KID, WHEN YOU WERE IN ELEMENTARY SCHOOL, AND I DON'T KNOW ABOUT YOU GUYS, BUT I REMEMBER WORKBOOKS AND TEXTBOOKS.

DO Y'ALL REMEMBER WORKING OUT OF TEXTBOOKS? THOSE ARE SOME OF OUR EXPERIENCES.

WELL, THIS STAFF HAS WORKED HARD AND DILIGENTLY SO THAT OUR KIDS AT COMSTOCK HAVE MEANINGFUL IMPACTFUL EXPERIENCES THAT THEY'RE GOING TO REMEMBER FOREVER.

OUR FOURTH GRADE TEAM, WHEN THEY WERE KICKING OFF GOAL SETTING, THEY DECIDED TO DO A MARIO BROTHER THEME AND THEY ALL DRESSED UP AS MARIO BROTHER CHARACTER.

LOOK AT MR. HOLLAND. RAISE YOUR HAND, MR. HOLLAND. THIS WAS AMAZING.

THE KIDS LOVED IT, AND THEY CHALLENGE THE KIDS TO LEVEL UP IN THEIR GOAL SETTING, AND IT WAS SO AMAZING, IT WAS GREAT.

THEN IN SPECIALS, OUR SPECIALS TEAM WANTED TO DO SOMETHING THAT WAS REALLY FUN.

THEY USED THE SAME LESSONS THAT THEY WERE GOING TO TEACH, BUT THEY HAD A GLOW WEEK WHERE EVERYTHING WAS DONE WITH BLACK LIGHTS.

>> THEY DID BOWLING WITH BLACK LIGHTS, PAINTING WITH BLACK LIGHTS, AND MUSIC WITH BLACK LIGHTS, AND THEY LOVED IT.

THEN THIS NEXT ONE, OUR POETRY CAFE IS SOMETHING THAT I'M REALLY PROUD OF.

IT'S A TRADITION THAT OUR 2ND GRADE TEACHERS HAVE CREATED AND WE DO IT EVERY YEAR.

I SEE PARENTS NODDING THEIR HEAD.

WE ALL LOVE THIS SO MUCH.

AT THE END OF THE POETRY UNIT,

[00:55:01]

THE 2ND GRADE TEACHERS CREATE A STAGE, AND THEY HAVE A DIRECTOR'S CHAIR AND A SPOTLIGHT, AND EACH STUDENT COMES UP AND READS THEIR POEM TO THE AUDIENCE.

WHAT THIS DOES IS IT ALLOWS OUR KIDS TO CONTRIBUTE AND COMMUNICATE WITH A BROADER AUDIENCE, BUT ALSO I THINK THE MOST IMPORTANT PART IS IT GIVES THEM THAT EXPERIENCE WHERE THEY KNOW WHAT IT FEELS LIKE TO CREATE SOMETHING THAT BRINGS HAPPINESS AND JOY TO OTHER PEOPLE.

IT IS JUST REALLY A WONDERFUL THING THAT 2ND GRADE DOES.

I COULD GO ON AND ON BUT THAT'S A LOT OF THE THINGS WE DID THAT I WANTED TO SPOTLIGHT.

I ALSO HAVE A VIDEO FOR US TO SEE WITH A COUPLE TEACHERS TALKING AND LAB 2 IS FEATURED IN OUR VIDEO.

>> WE ARE FUTURE READY AT COMSTOCK BECAUSE WE ARE BRAVE, WE ARE KIND, WE ARE EXCELLENT.

>> MORNING MEETINGS ARE VERY IMPORTANT TO US HERE AT COMSTOCK.

THIS IS A TIME WHERE STUDENTS GET TO SHARE AND CONNECT WITH ONE ANOTHER.

WE TRULY BELIEVE THAT PEOPLE LEARN FROM PEOPLE THEY LOVE.

BUILDING THESE RELATIONSHIPS IS THE FOUNDATION FOR LEARNING AND EXCELLING.

>> I REALLY LIKE GOAL SETTING BECAUSE YOU CAN ALWAYS JUST THINK ABOUT WHAT YOU WROTE AND THINK ABOUT IT AND BE LIKE, IF YOU WROTE, DON'T GIVE UP, KEEP TRYING, YOU CAN THINK ABOUT IT, AND THEN IF YOU'RE STUCK ON A QUESTION, YOU CAN THINK DON'T GIVE UP, KEEP TRYING, AND YOU'LL GET IT.

>> HI, MY NAME IS EMILY WALKER.

I'M THE 4TH GRADE TEAM LEADER HERE AT COMSTOCK.

OUR STAFF HERE AT COMSTOCK FEEL SO SUPPORTED BY OUR LEADERSHIP TEAM TO BE CREATIVE, INNOVATIVE, AND ENGAGING WITH OUR LESSONS TO TEACH STUDENTS.

FOR EXAMPLE, IN 4TH GRADE, THE ELR TEAM DID A TEXT FEATURE SURGERY FOR STUDENTS TO FIND TEXT FEATURES IN DIFFERENT MAGAZINES AND STORY WORKS TO PICK OUT, CUTOUT AND THEN PUT IN THEIR PACKET TO PRACTICE LEARNING THEIR TEXT FEATURES.

WE ALSO HAD COMMUNITY MEMBERS THAT HELPED SUPPORT THE SUPPLIES TO MAKE IT MORE ENGAGING AND REALISTIC FOR THE STUDENTS.

THIS REALLY WAS JUST A GREAT EXPERIENCE FOR THE STUDENTS TO HAVE AND REMEMBER FOR THEIR LIFETIME OF PRACTICING TEXT FEATURES.

>> [INAUDIBLE] AT COMSTOCK.

>> WELL, THANKS TO YOU GUYS.

THANK YOU FOR LETTING ME SHARE AND COME VISIT US ANYTIME.

[APPLAUSE]

>> MADAM PRESIDENT, CAN I SAY A FEW WORDS? I THINK YOU HAVE A TERRIFIC CAMPUS.

I BELIEVE KIDS ARE LUCKY TO LEARN AT YOUR SCHOOL AND I THINK TEACHERS ARE FORTUNATE TO TEACH AT YOUR CAMPUS.

I WANT TO DIRECT THIS MOSTLY TO COOPER AND SANJANA AND I PRESUME PARENTS.

YOUR TWO KIDS ARE EXTRAORDINARY.

I HAVE A DAUGHTER, SHE'S IN KINDER AT ASHLEY.

>> THERE'S THREE KIDS.

>> YES. I KNOW THERE'S THREE.

ONLY TWO GAVE ME THE TOUR.

[LAUGHTER] I'M SURE THE OTHER AMBASSADOR IS EXTRAORDINARY TOO.

I DIDN'T MEAN TO GET IN TROUBLE BY THE PRESIDENT HERE.

TRYING TO GIVE SOME COMPLIMENTS HERE.

BUT FROM MY EXPERIENCE WITH COOPER AND SANJANA, I KNOW YOU'RE PROUD.

YOU SHOULD BE VERY PROUD.

I WALKED IN, AND THEY TOOK IT AND RAN, AND IT WAS A VERY MEMORABLE EXPERIENCE.

I CAME HOME TO MY FAMILY IN THE EVENING AND I TALKED ABOUT COOPER AND SANJANA MOST OF THE EVENING TO MY LITTLE KINDERGARTNER AND TO MY WIFE AND I SAID, IT'S AN ASPIRATIONAL VISION OF A FEW YEARS, 4TH GRADE, OF WHAT SHE CAN BE IN ANOTHER THREE OR FOUR YEARS.

I'M SURE IT'S GOING TO GO LIKE THAT.

BUT IT WAS NOT JUST A TOUR.

IT WAS A STUDENT LED EXPERIENCE THAT WAS VERY MEMORABLE, VERY WELL DONE, AND KUDOS TO YOU COOPER AND SANJANA, AND TO THE OTHER AMBASSADOR, I'M SURE,

[01:00:02]

THANK YOU ALL VERY MUCH.

[APPLAUSE]

>> THANK YOU AGAIN, MS. DALTON AND OUR COMSTOCK FAMILY FOR COMING IN TODAY TO SHARE ABOUT HOW YOU MAKE SURE YOUR STUDENTS ARE FUTURE READY.

>> MADAM PRESIDENT, MAY I SAY A FEW THINGS?

>> MR. PONANGI.

>> THANK YOU. FIRST OF ALL, MS. DALTON, THANK YOU SO MUCH FOR COMING HERE AND SPEAKING VERY PASSIONATELY.

I SEE THAT AND THEN SEE THE TRANSLATED WITH THE TEACHERS AND STAFF.

I REALLY LIKE THE MODELS THAT YOU HAVE CHOSEN AND ALSO THE GOAL SETTING THEME THAT YOU HAVE.

I'LL BE INTERESTED TO SEE WHAT GOAL SETTING WILL BE THERE IN FUTURE AND THEN HOW THE STAFF AND TEACHERS WILL ABSORB THAT.

BUT AGAIN, I APPRECIATE EVERYBODY ELSE WHO ARE HERE AND SHOWING THE SUPPORT FOR COMSTOCK.

THANK YOU SO MUCH. [APPLAUSE]

>> THANK YOU AGAIN.

>> HAD THE BEST TURNOUT IN ANY ONE OF ALL [INAUDIBLE] [APPLAUSE]

>> BOARD, WE'RE GOING TO MOVE RIGHT ALONG TO AGENDA ITEM 10 WHICH IS COMMUNICATION TO AND FROM THE BOARD INCLUDING PUBLIC COMMENTS. MR. HILL?

[10. Communication to and from the Board including Public Comments]

>> WE NOW MOVE TO THE PUBLIC COMMENT SESSION OF OUR AGENDA.

THE BOARD WELCOMES COMMENTS REGARDING AGENDA ITEMS FROM INDIVIDUALS WHO HAVE COMPLETED PUBLIC COMMENT FORMS THIS EVENING, WHICH ARE ACCEPTED UNTIL THE BEGINNING OF THE OPEN MEETING AND ARE NOT TRANSFERABLE TO OTHER SPEAKERS.

PLEASE BE ADVISED THAT THE INFORMATION SHARED IN PUBLIC COMMENT IS NOT AN ENDORSEMENT OF THE INFORMATION SHARED BY THE PRESENTER AND SOLELY PROVIDES THE OPINION OF THE INDIVIDUAL SPEAKER, NOT THE DISTRICT.

DURING THE PUBLIC COMMENT PERIOD, COMMENTS SHOULD BE DIRECTED TO THE BOARD OF TRUSTEES ONLY NOT OTHER ATTENDEES AND ONLY MADE ONCE YOU HAVE BEEN CALLED UPON TO SPEAK.

TO ENSURE THAT ALL SPEAKERS ARE TREATED EQUALLY AND HAVE THE SAME AMOUNT OF TIME IN THE PODIUM, MIC WILL BE TURNED OFF AT THE CONCLUSION OF THE TIME FOR EVERY SPEAKER.

PLEASE KEEP ALL PUBLIC COMMENTS RELATED TO SCHOOL DISTRICT GOVERNANCE AND OPERATIONS.

IF YOU HAVE A SPECIFIC CONCERN RELATING TO AN EMPLOYEE OF THE DISTRICT OR A SPECIFIC STUDENT ISSUE, YOU ARE ENCOURAGED TO UTILIZE THE DISTRICT'S GRIEVANCE PROCEDURES PROVIDED IN BOARD POLICIES, DGBA LOCAL, F&G LOCAL, AND GF LOCAL.

EACH GRIEVANCE PROCEDURE ALLOWS FOR AN INDIVIDUAL'S REDRESS GRIEVANCES WITH THE BOARD OF TRUSTEES.

PLEASE REMEMBER THAT THE BOARD MAY NOT DISCUSS OR ACT UPON ANY ISSUES THAT ARE NOT PROPERLY POSTED ON THE AGENDA.

IF YOU WISH TO PROVIDE PUBLIC COMMENT ON AN ITEM THAT IS NOT ON THIS MEETING'S AGENDA, PLEASE JOIN US FOR OUR NEXT COMMUNITY INPUT MEETING ON FEBRUARY 24TH, 2025.

THE FIRST PORTION OF OUR PUBLIC COMMENT SESSION IS STAKEHOLDER TESTIMONY WHEN THE BOARD WILL HEAR FROM PARENTS OF FRISCO ISD STUDENTS, FRISCO ISD EMPLOYEES AND STUDENTS, AND OTHER FRISCO ISD RESIDENTS.

ALL INDIVIDUALS ARE REQUIRED TO PROVIDE A FULL NAME AND HOME ADDRESS WHEN SIGNING UP TO SPEAK IF WE'RE UNABLE TO VERIFY AN INDIVIDUAL'S STATUS AS A STAKEHOLDER BASED ON THE INFORMATION PROVIDED THE INDIVIDUAL WILL BE CALLED UPON TO SPEAK DURING PUBLIC TESTIMONY.

EACH STAKEHOLDER SHALL HAVE THREE MINUTES TO ADDRESS THE BOARD REGARDING ITEMS ON THE AGENDA FOR THIS MEETING.

STAKEHOLDERS WILL BE CALLED IN THE ORDER IN WHICH EACH INDIVIDUAL SIGNED UP TO SPEAK.

>> THANK YOU, MR. HILL.

WE DO HAVE ONE PUBLIC COMMENT SPEAKER, SIGN UP THIS EVENING, MR. PAUL JESSEN.

>> GIVE ME ONE. YES, NOW.

>> I DIDN'T HEAR YOU SIR. SAY THAT AGAIN.

>> I HAD SOME HANDOUTS THAT I WANTED TO GIVE YOU.

>> SURE. IF YOU'D LIKE TO GIVE THEM TO THE YOUNG LADY HERE AT THE END, SHE'LL TAKE THEM.

>> OKAY.

>> THANK YOU. AT THE END OF THE DAY, YES.

>> WE CAN GO NOW?

>> YES.

>> GOOD. TELL ME WHEN I START, SO I CAN TO DO MY TIMER AS WELL.

>> YOU CAN GO AHEAD.

>> GOOD EVENING. I WANTED TO ADDRESS SOMETHING THAT I DIDN'T FEEL GOT SOME ANSWERS ON.

ON THIS WEBSITE, YOU HAVE A PLACE WHERE WE GET ANSWERS FROM QUESTIONS WE BRING HERE TONIGHT AND SO FAR, NONE OF IT MIGHT HAVE BEEN ANSWERED, SO I DIDN'T KNOW WHO'S MONITORING THAT PAGE.

BUT I WANTED TO BRING UP SOMETHING THAT I THOUGHT MIGHT BE USEFUL AS WE GO FORWARD, ESPECIALLY FINANCIALLY.

[01:05:06]

ONE OF THE THINGS I HEARD WAS THE WORD HABIT.

PEOPLE WHO HAVE BEEN VOTING FOR THINGS AT A CERTAIN WAY SO FOR SO MANY YEARS, THEY JUST VOTE HABITUALLY, AND I WAS ONE OF THEM.

>> MR. JESSEN, I WOULD LIKE TO ASK IF YOU CAN PLEASE STICK TO THE AGENDA ITEM TOPIC.

>> IT HAD THE WORD BOND IN IT. THAT'S HOW I PICKED IT.

>> WOW. OKAY, SIR.

>> I VOTED BOND FOR WHO KNOWS HOW MANY YEARS.

THEN I FOUND OUT WHAT? NOW IT'S BEING DONE BY PROPERTY TAXES.

THAT WAS NEW TO ME, AND FOR THE FIRST TIME, I DID NOT VOTE MY HABIT.

I VOTED AGAINST IT AND JOINED IN WITH OTHERS WHO FELT THE SAME WAY.

THEN WHAT I WAS GOING TO HAVE AS A HANDOUT IS A GRAPH THAT SHOWS THAT 96% GROWTH IN STUDENTS BETWEEN 1950 AND 2009 WHICH IS 60 YEARS, THEN OF COURSE, THE LAST 15 I ALL OUT HERE.

BUT TEACHERS, 252% AND ADMINISTRATION AND OTHER STAFF, 702%.

WOW. HOW IN THE WORLD DID THAT HAPPEN? I THINK IT'S HAPPENED OVER THE YEARS AND I WATCHED THIS WHEN I WAS FIRST IN TEACHING, THAT YOU JUST KEPT SPENDING.

MAYBE THE THING THAT'S GOING ON AROUND THE COUNTRY IS EVERYBODY, SCHOOL BOARDS, CITY COUNCIL, STATES, AND EVERYTHING ELSE, LET'S DO SOMETHING TO REDUCE WHY ARE WE SPENDING ALL THIS MONEY? THE THING I ADVOCATED BEFORE WAS A FORENSIC AUDIT, AND I OFFERED TO START A FUND FOR IT, BUT THE $100 DIDN'T SEEM TO BE ENOUGH.

I BROUGHT $1,000, THERE'S 10 OF THESE, THINKING THAT THAT MIGHT HELP BECAUSE A LOT OF PEOPLE HERE IN THIS TOWN WHO APPRECIATE WHAT'S GOING ON, BUT GOING, WE HAVE TO REEVALUATE.

LET'S GET A FORENSIC AUDIT DONE, AND I'VE BEEN INVOLVED WITH COMPANIES WHO ARE DOING THIS AND THEY JUST STARTED-

>> THANK YOU, SIR. NO, SIR.

BOARD, WE'RE GOING TO MOVE TO AGENDA ITEM 11,

[11.A. Consider and Act on approval of minutes from the December 9th Regular Meeting and the amended November 18th Regular Meeting Minutes ]

CONSIDER AND ACT ON APPROVAL OF MINUTES FROM THE DECEMBER 9TH REGULAR MEETING AND THE AMENDED NOVEMBER 18TH REGULAR MEETING MINUTES.

BOARD, I'LL LOOK FOR A MOTION.

>> I MOVE TO APPROVE MINUTES FROM DECEMBER 9TH REGULAR MEETING AND THE AMENDED NOVEMBER 18TH REGULAR MEETING MINUTES AS PRESENTED.

>> SECOND.

>> MOTION BY MRS. ELAD, SECOND BY MR. PONANGI.

BOARD ARE THERE ANY QUESTIONS AT THIS TIME? IF THERE ARE NONE, I'LL LOOK FOR A VOTE.

MOTION PASSES 6,0.

BOARD WILL MOVE TO AGENDA ITEM 11 B,

[11.B. Consider and Act on adoption of an Order authorizing the issuance of unlimited tax bonds, establishing sale parameters, authorizing the execution of a bond purchase contract and an escrow agreement, approving an official statement, and enacting other provisions relating to the subject]

BOARD, I'LL LOOK FOR A MOTION.

>> I MOVE TO APPROVE THE ADOPTION OF ORDER AUTHORIZING THE ISSUE OF UNLIMITED TAX BOND, ESTABLISHING SALE PARAMETERS, AUTHORIZING THE EXECUTION OF A BOND, PURCHASE CONTRACT, AND AN ESCROW AGREEMENT, APPROVING AN OFFICIAL STATEMENT AND ENACTING OTHER PROVISIONS RELATED TO THE SUBJECT AS PRESENTED.

>> SECOND.

>> MOTION BY MR. MADDOX, SECOND BY MRS. SALAS.

BOARD ARE THERE ANY QUESTIONS AT THIS TIME? IF THERE ARE NONE, I'LL LOOK FOR A VOTE.

MOTION PASSES 6,0.

BOARD, WE'LL MOVE TO AGENDA ITEM 11 C. CONSIDER AND ACT ON THE ADOPTION OF A RESOLUTION

[11.C. Consider and Act on the adoption of a resolution directing the defeasance and/or redemption of certain of Frisco Independent School District’s outstanding unlimited tax bonds on one or more occasions; appointing an authorized officer and delegating to the authorized officer the authority to make all determinations required to effectuate such defeasance and/or redemption; and enacting other provisions relating to the subject]

[01:10:07]

I'M SAYING THAT TO BE FUNNY BECAUSE I MESSED IT UP THE FIRST TIME AND OR REDEMPTION IN ACTING OTHER PROVISIONS RELATING TO THE SUBJECT.

BOARD, I LOOK FOR A MOTION.

>> I MOVE TO APPROVE THE ADOPTION OF A RESOLUTION DIRECTING THE DEFEASANCE AND/OR REDEMPTION OF CERTAIN FRISCO INDEPENDENT SCHOOL DISTRICT'S OUTSTANDING UNLIMITED TAX BONDS ON ONE OR MORE OCCASIONS, APPOINTING AN AUTHORIZED OFFICER AND DELEGATING TO THE AUTHORIZED OFFICER THE AUTHORITY TO MAKE ALL DETERMINATIONS REQUIRED TO EFFECTUATE SUCH DEFEASANCE AND/OR REDEMPTION, AND ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT AS PRESENTED.

>> SECOND.

>> MOTION BY MRS. ELAD, SECOND BY MR. HILL.

BOARD, ARE THERE ANY QUESTIONS AT THIS TIME? IF THERE ARE NONE, I'LL LOOK FOR A VOTE.

MOTION PASSES 6,0.

BOARD, WE'RE MOVING TO ITEM 11 D. CONSIDER AND ACT ON

[11.D. Consider and Act on Budget Transfers and Amendments for the 2024-2025 General Fund Budget]

BOARD, I'LL LOOK FOR A MOTION.

>> I MOVE TO APPROVE THE BUDGET TRANSFERS AND AMENDMENTS FOR THE 2024 2025 GENERAL FUND BUDGET AS PRESENTED.

>> MOTION BY MRS. ELAD, SECOND BY MR. PONANGI.

BOARD, ARE THERE ANY QUESTIONS? IF THERE ARE NONE, I'LL LOOK FOR A VOTE.

MOTION PASSES 6,0. BOARD, WE'RE MOVING TO OUR FINAL AGENDA ITEM,

[12. Consent Agenda]

>> I MOVE TO APPROVE ALL ITEMS ON THE CONSENT AGENDA AS PRESENTED.

>> SECOND.

>> MOTION BY MR. PONANGI, SECOND BY MRS. SALAS.

BOARD, ARE THERE ANY QUESTIONS? IF THERE ARE NONE, I'LL LOOK FOR A VOTE.

MOTION PASSES 6,0.

THANK YOU TO OUR SRO FOR BEING HERE WITH US TONIGHT.

WE REALLY APPRECIATE IT.

WE HOPE WE'RE GIVING YOU BACK SOME OF YOUR TIME.

THANK YOU ALL FOR BEING WITH US TONIGHT AND AT 7:52, WE ARE ADJOURNED.

* This transcript was compiled from uncorrected Closed Captioning.