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Lake Dallas ISD authorizes sale of Unlimited Tax Refunding Bonds, Series 2025, citing $2.1M net savings estimate
Summary
The Board approved an order authorizing issuance and sale of 'Lake Dallas Independent School District Unlimited Tax Refunding Bonds, Series 2025' with parameters that include a minimum net savings of $2.1 million; the resolution passed 7–0.
Josh McLaughlin of BOK Financial Securities presented a proposal for the District to issue refunding bonds to replace a portion of existing debt at lower interest rates. McLaughlin said the plan could yield estimated net savings of $2.1 million if specified parameters are met.
The Board adopted an order establishing parameters for the sale: a minimum net savings amount (net of all costs) of $2,100,000; a maximum principal amount to refund of $38,009,518.05; a maximum interest rate of 4.10%; and a final maturity date not later than Aug. 15, 2042. The order delegates certain actions to authorized district officials and includes a deadline that refunding must be completed by April 20, 2026, or the bonds would not be issued absent further direction.
Mark Tucker moved to approve the order and Bruce Smith seconded; the motion passed 7–0. The Board’s action authorizes the district to proceed under those parameters but does not by itself create new borrowing beyond the refunding plan described in the order.
