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Richland R-I board approves defeasance of $40,000 in Series 2022 bonds
Summary
At a special tax rate hearing Aug. 21, the Richland R-I Board of Education voted 7-0 to establish an escrow with UMB Bank to defease and prepay $40,000 of General Obligation Bonds, Series 2022.
The Richland R-I Board of Education unanimously approved a resolution to defease and prepay $40,000 in principal on its Series 2022 general obligation bonds. The action was recorded at the special tax rate hearing on Aug. 21.
The resolution authorizes the establishment of an escrow account with UMB Bank, N.A., Kansas City, Missouri, to defease and prepay $40,000 principal amount of General Obligation Bonds, Series 2022. The motion to adopt the resolution was made by board member Kevin Evans and seconded by board member Clinton Corlew. The vote was 7 “yeas,” 0 “nays.”
The board took the vote as a discrete administrative action during the hearing; the minutes do not record public comment on the bond defeasance or further procedural steps. The measure passed unanimously.
