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Committee approves application to State Bond Commission to refund 2016 bonds, aiming to lower debt service
Summary
The committee authorized staff to apply to the State Bond Commission for a refunding of Series 2016 bonds (not to exceed $13,455,000) to capture lower interest rates and reduce debt service; presenters estimated potential savings of about $425,000 after fees.
The Terrebonne Parish School Board finance committee voted to forward a resolution authorizing application to the State Bond Commission to refund outstanding Series 2016 bonds.
Wes Shatto, a public finance attorney working the transaction, described the item as preliminary approval to seek the bond commission’s parameters. Marcus Lambert of DA Davidson explained…
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