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Board approves parameter order to allow possible later bond refunding; advisors show potential $3.5M savings
Summary
Trustees approved a parameter refunding order authorizing future unlimited tax refunding bonds and delegating pricing authority to district officials; Hilltop Securities presented a sample scenario indicating roughly $3.5–3.75 million in potential savings if market conditions permit.
The board approved a parameter order that would let Rockwall ISD issue unlimited tax refunding bonds in the future subject to meeting set parameters and delegated pricing authority to district officials.
Jeff Robert of Hilltop Securities presented the item and cautioned that the district "is not going to do this till later this year," explaining the parameter order preserves the option to refinance when conditions are favorable. He walked trustees through sample maturities and an illustrative savings scenario of roughly $3,500,000 to $3,750,000 and said final structure depends on certified tax-base projections and market rates. Administration recommended approval of the parameters to retain flexibility; the motion to approve passed by the members present.
