Houston schools to complete massive building program with $103 million surplus

The Houston school district got the go-ahead from voters in 1998 to spend $678 million building 10 schools and renovating 69 others. As the school board approves the last of those contracts, district officials figure they will still have more than $103 million left over. Favorable interest rates on bonds and a competitive market combined to bring the projects in well under budget. District planners already have figured out what to do with the extra money--$46 million will go to renovate 10 more schools and $5 million will pay for window replacements at 21 buildings.