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Leander ISD seeks authorization to issue up to $100M new‑money bonds and refund callable debt under parameters order
Summary
Administration and municipal advisors proposed a parameters order for Unlimited Tax School Building and Refunding Bonds, Series 2026A: delegate sale authority to officials, permit up to $100M new-money bonds and up to $243.6M for refunding, require minimum NPV savings of 3.0%, and cap new-money TIC at 6%.
Leander ISD presented a plan to issue the Unlimited Tax School Building and Refunding Bonds, Series 2026A, combining up to $100 million in new-money bonds to fund voter-approved capital projects and refunding of callable bonds for potential debt-service savings. Municipal advisors (PFM Financial Advisors and Nickel Hayden Advisors) outlined a delegation order that would allow named officials (Board President, Vice-President, Secretary, Superintendent, or CFO) to approve the sale within defined parameters rather than waiting for a Board meeting.
Key parameters in the packet: not-to-exceed $100,000,000 aggregate original principal for new money with final maturity not to exceed August 15, 2056; not-to-exceed $243,599,605 aggregate original principal for refunding with final maturity not to exceed August 15, 2049; minimum net present value (NPV) savings requirement of at least 3.00% (net of district contribution) for refundings; and a maximum true interest cost (TIC) of 6% for new-money bonds. The packet states the transaction will price in summer 2026 via a negotiated sale and the results will be reported to the Board upon completion.
