Olney I.S.D. raises I&S rate, adopts M&O rate to fund operations and defease bond
August 27, 2026 | OLNEY ISD, School Districts, Texas
This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »
The Olney I.S.D. Board voted Aug. 27 to adopt the district's 2026-27 Maintenance and Operations tax rate at $0.75540 per $100 valuation and to set the Interest and Sinking (I&S) rate at $0.19000 per $100 valuation. District staff said the increased I&S rate is intended "to be used towards the defeasance of the 2024 bond."
Trustee Hannah Stewart moved to approve the M&O rate (seconded by Jodee Wales); that motion carried 6-0. Trustee Jodee Wales moved and Kenley Lane seconded the motion to adopt the higher I&S rate; the motion statement recorded the change as a $0.035468 increase above the minimum calculated rate of $0.154532 per $100 valuation, which the motion described as a 22.9 percent increase.
Board members recorded unanimous approval of both rates. The board also approved a related resolution authorizing excess collections to be invested and accrue for allowable early settlement of bond indebtedness.
Trustee Hannah Stewart moved to approve the M&O rate (seconded by Jodee Wales); that motion carried 6-0. Trustee Jodee Wales moved and Kenley Lane seconded the motion to adopt the higher I&S rate; the motion statement recorded the change as a $0.035468 increase above the minimum calculated rate of $0.154532 per $100 valuation, which the motion described as a 22.9 percent increase.
Board members recorded unanimous approval of both rates. The board also approved a related resolution authorizing excess collections to be invested and accrue for allowable early settlement of bond indebtedness.
View the Full Meeting & All Its Details
This article offers just a summary. Unlock complete video, transcripts, and insights as a Founder Member.
✓
Watch full, unedited meeting videos
✓
Search every word spoken in unlimited transcripts
✓
AI summaries & real-time alerts (all government levels)
✓
Permanent access to expanding government content
30-day money-back guarantee
