In a very roundabout way, Big Spring Independent School District may be getting into the oil business.
BSISD trustees will discuss the possibility of leasing district land for oil exploration purposes when they hold their regular monthly meeting at 5:15 p.m. Thursday in the high school board room.
Business Manager Debbie Green said representatives of an oil company approached the school district with the intent to drill for oil on BSISD property near Knott.
Despite repeatedly pointing out the effective tax rate previously published was incorrect, the Big Spring City Council voted 6-1 Tuesday night to approve first reading of the levy in an effort to meet the state-mandated deadline for having the fiscal element in place.
The council â€” with District 4 Councilman Bobby McDonald the lone dissenter â€” approved first reading of the proposed tax rate of 86.5043 cents per $100 property valuation, a rate that will likely leave the municipality with a budgetary shortfall estimated at $130,000 to deal with in the coming year.