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Forney ISD board adopts order to authorize unlimited tax school building and refunding bonds
Summary
Forney ISD trustees on May 5 adopted an order authorizing the issuance of unlimited tax school building and/or refunding bonds, delegating sale approvals to board members and staff; the motion passed 6-0.
Forney Independent School District trustees voted May 5 to adopt an order authorizing the district to issue unlimited tax school building and/or refunding bonds in one or more series. Associate Superintendent for Business and Finance John Chase presented the order, which includes levying a continuing ad valorem tax for payment and approving forms and distribution of official statements.
Scott Regan moved that the board adopt the order by delegated sale; Hanna Bateman seconded. The motion passed 6-0. The order authorizes execution of paying agent/registrar agreements and purchase contracts for each series and delegates authority to certain board members and district staff to approve and execute documents related to the sale. The minutes do not specify bond amounts, interest rates, or the precise use of proceeds.
