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Trustees approve debt management plan, defeasance resolution and authorization for refunding bonds
Summary
Lewisville ISD trustees unanimously approved a debt management plan, a resolution to defease and redeem outstanding bonds, an order to issue unlimited tax refunding bonds, and a recommended underwriter pool for 2024-25.
Trustee Sheila Taylor moved, seconded by Dr. Staci Barker, to approve the District's Debt Management Plan for 2024-25; the motion passed unanimously (7-0). The Board subsequently adopted a resolution authorizing the defeasance and redemption of outstanding bonds after a motion by Trustee Katherine Sells, seconded by Trustee Michelle Alkhatib.
The Board also approved an order authorizing the issuance of unlimited tax refunding bonds (moved by Dr. Barker, seconded by Trustee Allison Lassahn) and approved the pool of recommended underwriters for the 2024-25 fiscal year as recommended under Board Policy CCA (LOCAL). These actions were recorded as unanimous votes and are intended to give the district flexibility to manage its debt and pursue refunding opportunities.
