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Bryan ISD board authorizes refunding order to defease Series 2023 bonds, staff say it will save millions
Summary
The Bryan ISD board voted unanimously to adopt an order authorizing defeasance and redemption of portions of its Series 2023 school bonds; district staff said the refunding approach could avoid about $11.4 million in interest and preserve the district’s debt-service tax rate ahead of a potential bond election.
The Bryan Independent School District Board of Trustees on Sept. 8 adopted an order authorizing the defeasance and redemption of certain outstanding unlimited tax school building bonds (Series 2023), a step staff said will reduce long‑term interest costs and preserve borrowing capacity.
District financial staff told the board the plan calls for selling short‑term refunding bonds and repaying existing debt next spring. "We're gonna sell bonds in September... Those bonds will repay all of the debt, and then we're gonna pay…
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