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Duncanville ISD authorizes resolution to explore prepaying bonds to cut interest costs
Summary
The board approved a resolution allowing staff and the district’s financial adviser to identify and pursue defeasance or redemption of callable bonds if excess debt-service funds are available, with an initial estimate that a $1.5 million prepayment could save more than $600,000 in future interest.
The Duncanville ISD Board of Trustees voted 5–0 on Sept. 15 to approve a resolution authorizing district officers to consult with the district’s financial adviser and to take actions to defease or redeem certain outstanding unlimited-tax bonds if funds are available in the debt-service fund.
Darla Moss, the district CFO, said the board’s resolution permits the CFO and superintendent to work with the financial adviser to identify prepayment opportunities that would reduce outstanding debt and save interest costs for taxpayers. Josh…
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