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Board approves defeasance and partial redemption of Series 2019 bonds
Summary
Trustees approved a resolution delegating district officials authority to defease and call for redemption of a portion of the district's Unlimited Tax School Building Bonds, Series 2019, following a Hilltop Securities presentation; motion passed unanimously.
Chief Financial Officer Kati Jones presented a resolution providing for the defeasance and calling for redemption of a portion of the district's Unlimited Tax School Building Bonds, Series 2019, and requested delegation of authority to staff to carry out the matters resolved in the document. The board heard a related briefing from Steven Murray of Hilltop Securities on the results of the 2025 defeasance and projections for 2026. A motion by Armando Flores, seconded by Dr. Josh Swarb, passed 6–0.
The resolution and accompanying materials were attached for trustees' review. The action delegates authority to specified district officials and staff to implement the defeasance and redemption steps described in the resolution, as reflected in the attached draft resolution.
