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Board reviews resolution to defease bonds; authorizes staff to pursue up to $10 million cash defeasance
Summary
Board received a presentation and considered a resolution that would authorize the district to use up to $10 million of surplus revenue to defease and redeem certain outstanding bonds; a motion was made but a vote outcome is not captured in the provided transcript.
The Brazosport ISD board reviewed a resolution authorizing the defeasance and redemption of certain outstanding bonds by depositing available funds into an escrow to reduce outstanding principal. The presentation referenced board policy CCA and Chapter 1207 of the Texas Government Code as the legal framework for the action. Staff told trustees the resolution would permit the district to…
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