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Forney ISD board adopts order authorizing unlimited tax school building and refunding bonds
Summary
The Forney ISD Board adopted an order authorizing the issuance of unlimited tax school building and/or refunding bonds in one or more series and delegated authority to district staff and board designees to finalize sale documents; adoption passed 5-0.
At the May 26 board meeting, Associate Superintendent of Business & Finance John Chase presented an order authorizing the issuance by Forney Independent School District of unlimited tax school building and/or refunding bonds in one or more series. The order includes levying a continuing direct annual ad valorem tax for bond payment and delegates authority to certain board members and district staff to approve and execute documents related to the sale and delivery of the bonds.
Board Member Michael Idemudia moved to adopt the order by delegated sale, and Board Vice President Chad Johnson supported the motion. The board voted 5–0 in favor. The minutes show the board approved delegation of authority to proceed with sale documents and official statements; the minutes do not specify series amounts, interest rates, sale dates or a final par amount.
