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Board approves bond redemption, hears plan to defease $15.5M in bonds and considers proposed 1.07 tax rate
Summary
CFO briefed trustees on rising certified values, a bond defeasance to retire $15,525,000 of 2019A bonds (saving about $7.4M in interest), and a proposed voter-approved tax rate of 1.07; trustees approved the bond-redemption resolution and will consider the tax rate at an October meeting.
The Goose Creek Consolidated Independent School District board unanimously authorized a resolution to redeem outstanding bonds after a presentation from Chief Financial Officer Bridget Clark on certified values, debt management, and a proposed tax rate.
Clark said the district plans a bond defeasance to retire $15,525,000 of outstanding Series 2019A bonds; that transaction is projected to reduce future…
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