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Board approves $12 million bond defeasance to reduce interest costs and create capacity
5437596 · July 21, 2025
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Summary
Trustees approved a resolution authorizing the administration to defease approximately $12 million of outstanding principal related to the 2023 series tied to the 2022 bond, projected to generate nearly $1 million in interest savings and create capacity for future bonds.
Magnolia ISD trustees voted to authorize administration to proceed with defeasance and early principal payoff of approximately $12,000,000 of district obligations related to the 2023 series from the 2022 bond election. Doctor Morris, who presented the financial item, said…
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