In fact, the District's underwriters secured a historically low interest rate of 1.98%. This low rate helps ensure extremely efficient use of Debt Service funds for Burnet CISD and its taxpayers. This will allow for funds ($52.5 million) to be delivered to the District in July as part of the voter approved May 2021 Bond Election. In related action, the Board approved paying off $1 million in debt early through a defeasance. Not only will this result in debt being paid off early, but is projected to save the District $470,000 in interest costs. The District projects lowering the overall tax rate by 6.9 cents to $1.077 during the August Board Meeting.