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Flatonia ISD trustees authorize potential tax-refunding bonds; district hopes to save about $500,000
Summary
Trustees approved an order authorizing Flatonia ISD to issue unlimited tax-refunding bonds and to permit a pricing officer to approve sales within parameters; administration said a timely refunding could "save the district around $500,000."
The board approved an order authorizing the issuance of Flatonia Independent School District unlimited tax-refunding bonds in one or more series, including provisions to levy a tax for security and to permit a pricing officer to award the sale within specified parameters. Business Manager Rodney Stryk and outside counsel explained the authorization gives the district flexibility to refinance if market conditions permit.
Stryk said, "If timed correctly, this has the potential to save the district around $500,000.00." Trustees voted 5-0 to approve the authorization; administration and counsel will proceed with the parameters and potential redemption schedule if market conditions make refunding advantageous.
