Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Vidor ISD board authorizes $50M bond sale; $49.355M sold at 4.05% true interest cost
Summary
The Vidor ISD Board of Trustees voted 7-0 to award this morning’s competitive sale of bonds; underwriters bid competitively and the district sold $49,355,000 (project fund $50,000,000) at a true interest cost of 4.05 percent with Truist Securities as the high bidder, and the district expects to close and receive proceeds in March 2025.
The Vidor Independent School District board voted 7-0 on Feb. 10 to approve awarding the district’s bond sale after a competitive bidding process earlier that day. The sale produced a $49,355,000 bond issue (the project fund was represented as $50,000,000 after premium), with a true interest cost (TIC) of 4.05 percent, and the highest bid came from Truist Securities (Charlotte, N.C.), the district’s financial advisors reported.
District financial advisors and underwriters presented the timeline and sale results to trustees during the meeting. According to the sale summary shown to the board, the competitive process drew 12 bids. Mr. David Holland (Lewis & Company) and other financial-advisory representatives explained that…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat