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Board approves bond defeasance resolution and authorizes parameters for potential refunding
Summary
Trustees approved a resolution to defease a portion of outstanding district bonds and authorized an order delegating authority for a potential unlimited tax refunding issuance, citing roughly $2.5 million available to reduce future interest costs and noting pending state legislative proposals that could affect refinancing options.
The Montgomery ISD Board of Trustees approved a resolution directing district staff to pursue the defeasance and redemption of a portion of outstanding bonds and adopted an order that delegates authority to district officials to proceed with a possible unlimited tax refunding if market conditions are favorable.
The district's financial advisor told trustees that roughly $2.5…
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