Greenville Independent School District (GISD) has reduced its debt burden by more than $89.7 million since 2020, following the Board of Trustees’ latest move to pay off bonds early. At its April 21, 2025, meeting, the Board voted to complete an early defeasance of bonds—a decision finalized on May 22, marking the fourth time in five years the district has refinanced or paid off bonds ahead of schedule.
Through a strategy combining scheduled payments, refinancing at lower interest rates, and early repayments, GISD has cut its total outstanding principal from $73.445 million at the end of fiscal year 2020 to $33.635 million by the end of the current fiscal year. This represents a reduction of over 50%.
The accelerated repayment plan has also shortened the district’s final debt maturity date by seven years.
Greenville taxpayers are benefiting from a reduced Interest & Sinking (I&S) tax rate, currently set at $0.2900—down from $0.3150 following the last voter-approved bond election.
“These savings reflect our Board’s commitment to sound financial management and our ongoing responsibility to the taxpayers of Greenville,” said Superintendent Dr. Joe Lopez. “It’s about doing what’s right for our students, our schools, and our community.”
