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Silsbee ISD board adopts resolution authorizing defeasance of certain bonds
Summary
The board unanimously adopted a resolution authorizing defeasance of certain outstanding bonds, approving an escrow agreement and engaging a verification agent, as recorded in the May 6 minutes.
The Silsbee ISD Board of Trustees adopted a resolution on May 6 authorizing the defeasance of certain outstanding bonds and approving related escrow and verification steps.
Trustee James de Garavilla moved to adopt the resolution, Trustee Kenneth Rulon seconded, and the motion passed unanimously. The resolution authorizes the execution of an escrow agreement and the engagement of a verification agent; the minutes do not list bond series, amounts or the verification agent's identity.
The minutes record this as a formal financing action; further administrative steps and documents (escrow agreement, verification report) will be needed to execute the defeasance but are not included in the meeting record.
