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Board adopts resolution to defease and redeem part of district bonds
Summary
Trustees approved a resolution expressing intent to defease and redeem certain outstanding bonds; the motion passed 6-0.
During the public hearing on the proposed budget, staff discussed Debt Service Fund projections and introduced a resolution that would defease and redeem a portion of the district's outstanding bonds.
Trustee Matt Weaver moved to adopt a "Resolution Expressing Intent to Defease and Redeem Certain of the District’s Outstanding Bonds;" Brenda Valdez seconded. The motion passed 6-0.
The minutes record the board's intent to defease and redeem certain bonds but do not detail the amount or timing; the finance office is the likely next point of contact for implementation and further public disclosure.
