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Petersburg ISD board approves order to defease and redeem certain outstanding bonds
Summary
Trustees approved an order authorizing defeasance and redemption of certain outstanding bonds, approved execution of an escrow agreement, and authorized engagement of a verification agent; the motion passed 6-0.
The Petersburg Independent School District Board approved an order authorizing the defeasance and redemption of certain outstanding bonds, including authorizing execution of an escrow agreement and engaging a verification agent. "Motion was made by John B Gicante,III, seconded by Stephen Marquez to approve an Order by the Board of Trustees of Petersburg Independent School District authorizing the Defeasance and Redemption of certain outstanding Bonds; approving and authorizing the Execution of an Escrow Agreement; authorizing the Engagement of a Verification Agent; and containing other provisions relating thereto. The motion passed 6-0," the minutes state.
The motion was recorded as passing unanimously among voting members present. The minutes do not specify the principal amounts or series of bonds to be defeased in the public excerpt; administrative staff likely hold the financial details in related documents.
