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TSSBA reports $217.935 million in bond sales; tax-exempt TIC 4.377%, taxable TIC 5.559%
Summary
The Tennessee State School Bond Authority reported it sold $217.935 million of Series 2025 bonds in April and closed the sale May 6; the authority accepted the report at its May 19 meeting.
The Tennessee State School Bond Authority reported on May 19 that it sold $217,935,000 of bonds in April and closed the sale on May 6.
Sandy Thompson, staff to the authority, said the bonds were initially scheduled to be competitively sold April 9 but were instead competitively sold April 14 and closed May 6. The sale totaled $217,935,000, of which $164,290,000 were tax-exempt (2025 Series A) and $53,645,000 were taxable (2025 Series B). Thompson reported the true interest cost (TIC) on the tax-exempt issue was 4.377% and on the taxable issue was 5.559%.
Chair recognized Thompson for the report and, after no questions from members, the authority considered the report accepted. No public comments were received at the meeting.
The report provides final sale and cost figures for the authority's Series 2025 A and B bonds and closes the transaction record for that issuance. The authority had no further business on its agenda and adjourned the meeting.
