Board authorizes up to $385M in severance‑tax bonds for legislatively‑approved projects
The board adopted an authorizing and delegating resolution permitting issuance of up to $385,000,000 in severance tax bonds (series 2026A) with maturities no later than 07/01/2036 and a maximum true interest cost of 5%.
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Luis Casco, bond counsel, summarized the authorizing resolution for severance tax bonds series 2026A and spelled out the parameters the board was asked to authorize: a maximum principal amount of $385,000,000, maturities not to exceed July 1, 2036, a maximum true interest cost of 5 percent, and public competitive sale details. "This resolution ... sets parameters, for the final terms of the bonds, including a maximum amount, as we said, 385,000,000," Casco said.
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