Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Taxation topic
No spam. Unsubscribe anytime.
Southwest ISD board sets 2024–25 tax rate, authorizes defeasance resolution
Summary
At its Aug. 27 meeting, the Southwest ISD Board approved a resolution to set the 2024–25 tax rate (M&O $0.7217; I&S $0.4381; total $1.1598) and separately approved a resolution authorizing defeasance of portions of outstanding obligations. Both motions passed unanimously.
The Southwest ISD Board voted Aug. 27 to adopt a 2024–25 tax rate with a Maintenance & Operations (M&O) rate of $0.7217 and an Interest & Sinking (I&S) rate of $0.4381, producing a combined total tax rate of $1.1598. The minutes record that "Mrs. Sudolcan moved to approve a resolution setting the tax rate for the 2024-2025 tax year with an M&O tax rate of $0.7217, a I & S tax rate of $0.4381, for a total tax rate of $1.1598." Trustee Florinda Bernal seconded and the motion carried with all members voting in favor.
Separately, the Board approved a resolution authorizing the defeasance of certain portions of the district's currently outstanding obligations. "Mrs. Sudolcan moved to approve a resolution authorizing the defeasance of certain portions of the District's current outstanding obligations and other matters related thereto as presented," the minutes state; the motion was seconded by Mrs. Bernal and adopted unanimously. The minutes do not include further financial detail or dollar amounts for the defeasance action.
