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Burleson ISD board authorizes bond refunding, early redemption to reduce interest costs
Summary
After a presentation from its financial adviser, the board approved an order to pursue refunding roughly $83 million of outstanding bonds and a separate resolution to redeem a Series 2016 maturity early, with projected interest-cost savings cited at about $6 million (present value).
The Burleson Independent School District Board of Trustees on Oct. 27 voted to authorize a refunding of outstanding voter-approved bonds and to allow early redemption of a separate Series 2016 maturity, actions the district's financial adviser said would reduce the district's interest-carrying costs.
Doug Witt, the district's financial adviser with Samco, told the board the refunding analysis covered about $83 million of bonds and produced roughly $6 million in total debt-service savings on a…
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