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Kaufman County OKs order to pursue refunding of 2016 road bonds, sets 4% present-value savings threshold
Summary
The commissioners approved an order authorizing staff to pursue refunding of a portion of the county's 2016 unlimited tax road bonds if market conditions meet a minimum 4% present-value savings threshold and delegated pricing authority to the judge and county finance staff.
Kaufman County commissioners on Oct. 14 voted to authorize county staff to pursue refunding all or part of the county's outstanding unlimited tax road bonds issued in 2016, with a requirement that any refunding achieve at least 4% present-value savings before the county closes.
The action authorizes the county to prepare a refunding issue of callable maturities identified in the 2016 series and delegates pricing approval to Judge Allen and county finance staff (Brandy) if the market produces the required savings. Commissioner Moore moved approval; Commissioner Lane seconded. The motion carried.
The county's financial advisor, identified in the meeting as George, presented options and modeled sensitivity to market rates. He said the total callable principal shown on the…
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