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Royal ISD board adopts short‑term $5M tax anticipation note to bridge winter cash flow
Summary
Trustees authorized a Tax and Revenue Anticipation Note (Series 2025) not to exceed $5 million to be repaid in April 2026; the board recorded the motion as unanimous approval.
The Royal Independent School District Board of Trustees on Dec. 8 adopted a resolution authorizing a Tax and Revenue Anticipation Note (Series 2025) in an amount not to exceed $5,000,000 to address short‑term cash flow needs.
Trustee Melissa Woods moved to adopt the resolution and Trustee Jimmy Meader seconded; the motion passed with all trustees recorded as voting "Yea." The minutes record that "Mrs. Woods stated that this was a three month arrangement and would be paid off in April of 2026." The action is recorded as a short‑term borrowing for district liquidity; the minutes do not list interest rate, underwriter, or lenders in open session.
Board materials list the note as a temporary cash‑flow tool; details on financing mechanics appear to remain with district finance staff for implementation and final execution.
