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Board approves defeasance resolution to redeem certain obligations
Summary
The board approved a resolution authorizing defeasance and calling for redemption of specified outstanding obligations and delegated authority to district officials to effectuate the redemption.
During its Aug. 26 meeting, the Orange Grove ISD Board approved a resolution providing for defeasance and calling for redemption of certain outstanding obligations. The motion—moved by Will Klatt and seconded by Scott Hinze—delegated authority to the board secretary or a designee and to certain district officials to carry out the redemption process.
The minutes record the motion and its passage; the agenda text described delegation of authority to district officials to effectuate the redemption and related administrative actions. The meeting record does not list the specific obligations by issue number or the timing of the redemptions in the provided transcript.
