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Lake Dallas ISD Board adopts refunding bond order to pursue debt service savings
Summary
The Lake Dallas ISD Board unanimously adopted an order authorizing the issuance of Unlimited Tax Refunding Bonds intended to achieve debt service savings, after approving engagement letters for bond counsel and municipal advisory services.
The Lake Dallas Independent School District Board of Trustees voted 7-0 on May 11 to adopt an order authorizing the issuance of Unlimited Tax Refunding Bonds in one or more series to achieve debt service savings. Superintendent Dr. Kristin N. Brown presented the order and the Board previously approved an engagement letter with Leon, Alcala, Morse & Reynolds, PLLC to serve as bond counsel and an agreement with Live Oak Public Finance, LLC for municipal advisory services.
Board members recorded a unanimous vote on the measure. Aaron Appleby moved to adopt the bond order and Scott Baird seconded the motion. The action follows the Board’s stated intent to reduce long-term debt service costs; the resolution and the selection of counsel and advisors were presented as steps needed to prepare the transaction. The Board did not specify the final principal amount, series structure, or sale dates during the meeting; those details would be determined in subsequent financing steps.
