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Carrollton‑Farmers Branch ISD approves order to issue remaining 2023 bond authorization ahead of Sept. 1 SB 4 deadline
Summary
At a June 12 special meeting the Carrollton‑Farmers Branch ISD board approved a parameters order authorizing delegated sale of the district's remaining 2023 bond authorization, citing a new state law (Senate Bill 4) that requires bonds be issued by Sept. 1, 2025 to receive expanded homestead‑exemption aid.
The Carrollton‑Farmers Branch Independent School District Board of Trustees voted 6‑0 June 12 to approve a parameters order authorizing the district to issue its remaining 2023 unlimited‑tax school building and/or refunding bonds.
The action, taken at a special board meeting, authorizes delegated sales and other sale documents for one or more series of bonds, sets sale parameters for new‑money debt and refundings, and delegates execution authority to district staff and designated board members. "The debt has to be issued before 09/01/2025," Carla Settle, district staff, said when explaining the timing consequence of the new state law.
The board's vote follows presentations from the district's bond staff, outside counsel and financial advisers explaining the order and three sale‑timing scenarios. "What you have in front of you tonight with regard to this item is our plan of finance order," Melissa Liao, attorney with the firm Canton, Hardin & Montoya, told trustees while outlining the document's components. Liao said the order is written as a parameters order that includes both a delegated sale authority and refunding parameters.
A district financial adviser presented three…
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