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Marble Falls ISD board adopts order to defease and redeem outstanding obligations
Summary
The board approved an order authorizing defeasance and redemption of certain outstanding district obligations and authorized an escrow agreement; the motion passed unanimously among present members (For: 6; Against: 0; Absent: 1).
Bill Orr presented a proposed order authorizing defeasance and redemption of certain outstanding obligations of Marble Falls Independent School District and recommended execution of an accompanying escrow agreement. Following presentation and brief discussion, Gary Boshears moved to adopt the order; Alex Payson seconded. The board approved the motion with six votes in favor, no votes against and one member absent.
The action authorizes district staff to proceed with defeasance and the execution of an escrow agreement as described in the proposed order. The minutes record the vote as For: 6; Against: 0; Absent: 1; no further details about specific obligations or amounts were provided in the minutes.
