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Paradise ISD board adopts resolution to defease and/or redeem certain unlimited tax bonds
Summary
The board adopted a resolution authorizing defeasance and/or redemption of certain Unlimited Tax Bonds to avoid tax-rate penalties and allow earlier payoff; the motion passed 6-0.
Paradise ISD trustees voted to adopt a resolution directing the defeasance and/or redemption of certain outstanding Unlimited Tax Bonds.
Superintendent Robyn Gibson explained the purpose: adopting the resolution is needed before setting proposed tax rates for 2025–26 so the district will not be penalized for adopting a higher interest & sinking (I&S) tax rate than required to cover current bond principal and interest. Mrs. Gibson said the step would also help the district pay off bond debt sooner and reduce interest expense. Trustee Landon Smith moved to adopt the resolution and Trent Murphy seconded; the motion carried 6-0.
The minutes record the board's formal adoption but do not list specific bond series, amounts, redemption schedules or the legal instrument text; those details would be in the resolution document not attached to the minutes.
