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Temple ISD reissues 2016 bonds; district projects $3.6 million net savings
Summary
District finance staff reported that a refunding of 2016 bond maturities will reduce outstanding principal from roughly $43.9 million to $40.2 million, produce a true interest cost under 4% and generate about $3.6 million in net savings after prepayments.
Temple ISD finance staff reported to the board on June 9 that the district completed a refunding of portions of its 2016 bond series and is projecting net debt-service savings of about $3.6 million.
The presenter said the series being refunded had outstanding maturities originally scheduled from 2026 through 2041, with a total outstanding principal of about $43.9 million as of Aug. 1. After the…
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