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Board approves resolution to defease and call redemption of certain district obligations
Summary
The board authorized staff to effectuate the defeasance and redemption of specified outstanding district obligations, including authorization to execute an escrow agreement. The motion passed 5–0.
Jesse Wyse briefed trustees on a resolution to defease and call the redemption of certain currently outstanding district obligations and to authorize execution of an escrow agreement to effectuate that redemption.
The board approved the resolution by a 5–0 vote. The resolution directs the superintendent and/or chief financial officer or designee to implement the redemption steps described in the briefing and execute necessary agreements; the minutes do not list the specific bond series or amounts in the open-session text, but the action is recorded as approved.
