A bond committee and its composition were approved by the Ector County ISD Board of Trustees during their meeting Tuesday.

Deputy Superintendent Stephanie Howard said the first meeting would be called in July and the committee will bring recommendations back to the school board in December for a possible May 2022 bond election.

The board would have until February to call an election.

Howard said they are looking at about 130 committee members, some of whom will be returning facilities review committee members.

The Ector County ISD Board of Trustees approved the 2021-22 budget during their meeting Tuesday night.

The budget year starts July 1. The board is required to approve three funds.

The general fund is $314,485,610; the school nutrition fund is $18,705,494; and the debt service fund is $19,250,666.

The total tax rate will remain at $1.17792 per $100 valuation. The maintenance tax will be $1.05170 and the debt service will be .12622 cents.

The average market value of a home this year is $218,000. The average taxable value of residences is $148,000 because of various exemptions, Chief Financial Officer Deborah Ottmers said.

About 80 percent of the budget is payroll and about 60 percent is for direct instruction, which is about average for the state. Ottmers said it ranges from 55 to 65 percent.

On a separate item, trustees approved the Nacero resolution findings on application and approved an agreement for limitation on appraised value of property for school district maintenance and operation taxes, pursuant to Chapter 313 of the Texas Tax Code, with Nacero TX 1 LLC.

Fred Stormer of the Underwood Law Firm in Amarillo and Chris Grammar of Culwell Consulting went through the 280-page agreement with the board.

Nacero plans to build a $6-7 billion gas plant in Penwell.

Nacero is a new company that is developing a technology that takes natural gas and makes gasoline, while also reducing the carbon footprint.

Hal Bouknight, chief operating officer of Nacero, said the company hopes to be involved in the school district and offer coop experiences to students. They also plan a visitors center so people can watch the facility being built, for example.

The board also approved Zenovia Crier as the principal of LBJ Elementary School. Communications Officer Mike Adkins said she comes to Odessa from Houston ISD.