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Spearman ISD board approves order to redeem parts of its 2013 refunding bonds
Summary
The Spearman ISD Board adopted an order to redeem specified maturities of its Unlimited Tax Refunding Bonds, Series 2013, setting a redemption date of Aug. 27, 2025 and instructing staff to deposit funds with the paying agent. The motion passed 6-0.
Spearman Independent School District's Board of Trustees on July 14 adopted an Order Authorizing Redemption of certain outstanding Unlimited Tax Refunding Bonds, Series 2013. The motion, made by Scott Sonnenberg and seconded by Abby Pipkin, carried 6-0.
The order directs district officers to deposit funds with BOKF, NA (the paying agent/registrar), provide notice to bondholders and make due provision for payment of principal, premium if any, and accrued interest on the Redemption Date. Exhibits entered into the record show a Redemption Date of August 27, 2025, notice language for bondholders and a Schedule I listing specific maturities and CUSIPs to be called. The board record notes approximately $2,135,000 of the Series 2013 bonds were outstanding as described in the Order.
Board members were not recorded as debating the mechanics of the redemption; the minutes record the board’s direction to execute the notice and deposit actions required to effect the redemption. The order was adopted at the July 14 regular meeting and will be carried out by the superintendent and director of finance as authorized by the board.
