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Rockwall ISD board extends Wells Fargo standby purchase agreement for 2006 variable‑rate bonds
Summary
The board approved a one‑year amendment to the district’s standby bond purchase agreement for its 2006 variable‑rate bonds; fee increases and swap termination costs were discussed.
The Rockwall Independent School District Board of Trustees voted to extend for one year the standby bond purchase agreement tied to the district’s outstanding 2006 variable‑rate bond issue.
Jeff Robert of Hilltop Securities told trustees the district originally sold $32 million of variable‑rate bonds in February 2006 and about $27 million remains outstanding. State law requires a standby bank to provide liquidity if…
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