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GCCISD authorizes issuance of Unlimited Tax Refunding Bonds, Series 2025C, citing $6.93M in interest savings
Summary
The Goose Creek CISD board approved an order authorizing Unlimited Tax Refunding Bonds, Series 2025C, which the board record states will yield $6,928,611 in total interest savings for the district and local taxpayers.
The Goose Creek Consolidated Independent School District Board voted July 13 to authorize issuance of Unlimited Tax Refunding Bonds, Series 2025C, and to delegate to the superintendent or chief financial officer authority to approve amount, interest rate, and price within set parameters.
Tiffany Guy moved the motion and Helen Berrott-Tims seconded; the board minutes report that "THE RESOLUTION WILL RESULT IN TOTAL INTEREST SAVINGS OF $6,928,611 FOR THE DISTRICT AND LOCAL TAXPAYERS." The motion passed with James "Jim" Campisi, Tiffany Guy, Jessie Martinez, Howard Sampson, and Helen Berrott-Tims voting for the motion.
The board's action authorizes redemption prior to maturity of certain outstanding bonds and delegates final pricing decisions to district officials, subject to parameters approved in the resolution. The minutes do not include bond counsel materials, the exact dollar amount of principal refunded, final interest rates, or sale date; those details will be set and reported by district finance staff during the bond transaction process.
The authorization is recorded on the agenda as item 9662 and is intended to produce interest savings for taxpayers per the district's presentation at the meeting.
