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KEMP ISD board adopts reimbursement resolution for planned bond-funded projects
Summary
The board adopted a resolution declaring the district's official intent to reimburse certain capital expenditures from proceeds of tax-exempt bonds in accordance with Treasury Regulation § 1.150-2; the action passed with the same vote pattern as other motions.
Trustees voted to adopt a resolution declaring the District's official intent to reimburse costs incurred in connection with planned capital expenditures from the proceeds of tax-exempt bonds.
Trustee Regina Kiser moved to "adopt and approve the resolution reimbursing the District for costs associated with the Projects," and Trustee Rachel Brewington seconded. The motion passed with six approvals, zero opposed and one absent.
The resolution references Treasury Regulation § 1.150-2 and indicates the district intends to follow applicable rules for tax-exempt bond reimbursements. The minutes do not specify the dollar amount of the planned projects or the exact categories of capital expenditures to be reimbursed.
The board did not enter executive session on this item. The meeting concluded at 7:03 PM.
