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Paris ISD board authorizes unlimited tax refunding bonds
Summary
The Paris ISD Board of Trustees unanimously approved an order authorizing the issuance of unlimited tax refunding bonds and delegated authority to a pricing officer to finalize sale terms, securing the bonds with an annual ad valorem tax.
The Paris ISD Board of Trustees unanimously approved an order authorizing the issuance of unlimited tax refunding bonds and delegated pricing authority to a designated pricing officer.
At the Oct. 21 meeting, Trustee Cliff Kerby moved to approve the order and Trustee Anne Biard seconded. The motion carried unanimously, 6-0. The order establishes parameters for bond sale approval and levies an annual ad valorem tax to secure repayment.
Board materials recorded that the authorization includes appointment of a pricing officer with delegated authority to approve the final sale terms and pricing within pre-set parameters. The minutes do not list the pricing officer’s name or the refunding amount or schedule. Details such as bond principal, estimated interest savings, or sale date were not specified in the minutes provided.
The board’s action formalizes delegation so staff can execute refunding paperwork and proceed with market sale steps without returning to the full board for ministerial pricing approvals. Additional financial details and final sale documents were not included in the minutes and may be available in the district’s bond or finance records.
