Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Bonds topic
No spam. Unsubscribe anytime.
Port Neches-Groves ISD board authorizes roughly $40 million in Series 2026 school bonds
Summary
The Port Neches-Groves ISD Board of Trustees authorized issuance of unlimited tax school building bonds, Series 2026, and accepted a plan of finance estimating approximately $40 million in proceeds with a projected delivery date of March 4, 2026.
The Port Neches-Groves Independent School District Board of Trustees on Jan. 12 approved an order authorizing issuance of unlimited tax school building bonds, Series 2026, and delegated authority to district officials to execute documents necessary for the sale.
The board motion, made by trustee Brandon Cropper and seconded by trustee Jake Lefort, passed with all trustees recorded as voting yea. Meeting materials from financial advisor Nickel Hayden state: "The District intends to issue approximately $40 million of bonds authorized by the November 2025 bond election, with debt service structured over a 30-year period." The plan shows a par amount of $38,930,000, an all-in TIC of 4.440% and a target delivery/closing date of March 4, 2026.
Nickel Hayden's presentation to the board included an existing debt profile, a timetable of steps toward pricing and closing, and an outline of participants on the financing team. The timetable in materials lists rating calls, due diligence with underwriters, and a planned closing on 3/4/2026.
The board record shows the motion authorizing issuance was made by Brandon Cropper, seconded by Jake Lefort; the vote was recorded with Scott Bartlett, Brandon Cropper, Brenda Duhon, Julie Gauthier, Mike Gonzales, Sarah Hardin, Jake Lefort, Dustin Marsh and Eric Sullivan voting yea. The materials do not record bond pricing or purchaser details at the time of the meeting; those items are scheduled in the plan of finance timetable that precedes sale and pricing.
