The Malakoff Independent School District announced on Thursday that that it will be paying off its Series 2010 school building bond 10 years before its balance is due, saving the district over $500,000 on the package.
“Malakoff ISD prides itself on being a good steward of taxpayer money,” said Superintendent Don Layton. “Paying off this bond early and saving our taxpayers slightly over half a million dollars in bond repayments shows that we take our charge of being responsible to the taxpayers in our school district very seriously.”
Money from the 2010 bond was used to complete several projects in the district, including the renovation of Malakoff Elementary School’s “Rock Building,” building a new science wing at Malakoff High School, updating some of the athletic facilities including a new press box at the football field and other smaller projects throughout the district.
In May of 2010, MISD passed a $4.9 million bond package. Funds were earmarked for a complete renovation of the rock building to provide eight regular classrooms, a science lab and a computer lab as well as a renovation Tiger Stadium, including new bleachers on both sides, a new press box and some stadium seating and new restrooms.
According to the MISD website, the “Rock Building" is made of brown fieldstone and supported by concrete beam. It was, constructed in 1940 as part of the federal Works Projects Administration program.
Layton joined MISD in 2019, replacing Randy Perry, who retired from the district. For four years, he was assistant principal at Boerne High School in Central Texas and was the high school principal at Martin's Mill in Van Zandt County for three years.
The seven member board currently includes, Pat Jones, Rick Vieregge, Jason Dalrymple, Jerry Spiva, Duana Busch, Peggy Dewberry and Mike Monroe.