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Board approves intent to issue up to $31.75 million in bonds, including $17.68M for facility maintenance
Summary
Trustees approved a resolution to pursue a competitive sale on April 13 for combined facilities maintenance and refunding bonds (approx. $31.75M total). Consultants projected a ~3% true interest cost and about $155,000 in gross refunding savings; the board also reapproved the 10‑year LTFM plan.
The School Board of Independent School District 624 approved a resolution stating the district’s intent to issue general obligation bonds totaling up to about $31,750,000 to fund long‑term facility maintenance and to refund a prior 2018 issue.
District staff and municipal advisor Shelby McQueen of Ehlers Inc. told the board the issuance will combine roughly $17.68 million for facilities maintenance with about $14.07 million to refund outstanding 2018 bonds. McQueen said the competitive…
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