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Arlington ISD approves order to pursue refunding bonds after 2019 bond update
Summary
Trustees authorized staff to prepare and issue refunding bonds after hearing a detailed update on the 2019 bond program and projected savings. Financial advisers said a $10 million contribution would boost annual debt-service savings to roughly $1 million; board approved consultant appointments and an authorizing order.
Trustees for the Arlington Independent School District on Nov. 6 approved a resolution directing staff to prepare for the issuance and sale of refunding bonds and adopted an order authorizing unlimited-tax refunding bonds, after hearing a detailed update on the district’s 2019 bond program.
Superintendent Doctor Smith introduced Financial Advisor George Willaford and bond counsel Sam Gill, who presented options to refund callable principal across multiple series. Willaford said the most attractive savings opportunity centered on callable maturities from the district’s 2017 series and that including portions of the 2015 and…
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