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Pasadena ISD board authorizes unlimited tax refunding bonds; pricing officer empowered
Summary
Trustees authorized the issuance of unlimited tax refunding bonds and empowered a pricing officer to set amounts, rates and terms. The motion passed 6–0 on Oct. 22.
The Pasadena ISD Board of Trustees authorized the issuance of unlimited tax refunding bonds at its Oct. 22 meeting, approving an order that sets parameters for one or more series and authorizes a pricing officer to finalize the amount, interest rate, price and other terms.
Trustee Marshall Kendrick made the motion, seconded by Trustee Nelda Sullivan. The minutes record the action as "Motion passed by 6 to 0 vote." The order delegates authority to a pricing officer to complete sale details within the parameters the board set; the transcript does not record the bond size or expected savings.
