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Board authorizes redemption of 2018 bonds and issues Series 2026 bonds for district projects
Summary
Trustees approved redemption of Series 2018 bonds when callable and authorized issuance and sale of Series 2026 bonds (planning to sell $35 million of $67 million authorization at 4.45% with a May 19 funding date).
The Groesbeck ISD Board approved two bond-related actions on April 21: an order authorizing redemption of the Unlimited Tax School Building Bonds, Series 2018, when they become callable in August; and an order authorizing issuance, sale and delivery of Groesbeck ISD Unlimited Tax School Building Bonds, Series 2026.
Lucas Janda reported the plan includes selling $35 million of the $67 million authorization at an interest rate of 4.45% with a funding date of May 19. The board approved both motions, delegating authority to complete required documents and preparing an Official Statement for the Series 2026 issuance.
