WISD retires its oldest bond early, saving $1.6M — and approves 2.5% raises

Weatherford ISD trustees voted Monday to retool a nearly $2.8 million 2002 bond debt so the district's oldest obligation is repaid by early 2029 instead of 2033. The 'defeasance' move erases four years from the bond's life and saves about $1.6 million, Hilltop Securities consultant Jeff Roberts told the board — crediting similar fiscal moves with roughly $27.7 million in savings over the past 14–15 years. Trustees also approved a 2.5% payroll increase for next fall, estimated at just under $1.7 million; payroll stands at $99.4 million including benefits before the raise. CFO Patricia Melendez reported reserves running about two weeks above the recommended three months. Property-value certification arrives July 25, and an Aug. 10 budget workshop sets the stage for public hearings on the proposed tax rate and budget. Last year's rate was $1.0342 per $100 valuation. Source: Weatherford Democrat · Published 2026-06-09

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