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Lake Worth ISD board adopts resolution to defease or redeem unlimited tax bonds
Summary
Trustees unanimously adopted a resolution delegating authority to defease and/or redeem certain outstanding unlimited tax bonds, appointing an authorized officer to make necessary determinations.
The Lake Worth ISD Board of Trustees adopted a resolution directing the defeasance and/or redemption of certain outstanding unlimited tax bonds at the Aug. 28 special meeting. Trustee Cristina Gallagher moved for adoption; Trustee Bret Tooke seconded, and the motion passed 7–0.
The resolution appoints an authorized officer and delegates to that officer the authority to make determinations required to effectuate any defeasance or redemption and enacts related provisions. The minutes record the motion and unanimous approval but do not list the specific bond series, amounts, or timing for defeasance/redemption.
