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Board approves up to $38.09 million in refunding bonds to manage debt
Summary
Seguin ISD trustees unanimously approved authorization for up to $38,090,000 in unlimited tax refunding bonds, delegating the CFO to complete the refunding documents and related tasks.
The Seguin ISD Board approved on Feb. 25 an order authorizing the issuance of up to $38,090,000 in unlimited tax refunding bonds intended to refinance outstanding district debt. The motion, made by Trustee Linda Duncan and seconded by Trustee William Dwyer, carried unanimously.
CFO Elizabeth Oaks will have delegated authority to approve and execute the refunding documents. The board’s action gives the district flexibility to pursue refunding opportunities to reduce interest costs or restructure debt, but no sale date or definitive savings estimate was provided at the meeting.
Trustees discussed refunding authority in the context of ongoing fiscal oversight; no board member recorded opposition and trustees asked staff to return with issuance terms when available.
