Office of the Superintendent of Schools
Office of Finance and Operations
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Approval Of An Order Approving A New Term Rate Period For The Houston Independent School District Variable Rate Limited Tax Schoolhouse Bonds, Series 2014A-2; Approving A New Term Rate Period For The Houston Independent School District Variable Rate Limited Tax Refunding Bonds, Series 2023C; Authorizing The Redemption Of The Callable Bonds Or A Portion Thereof; And Approving Other Provisions Relating Thereto
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The Series 2014A-2 Bonds currently bear interest at a term rate for a term rate period ending on May 31, 2025. The Houston Independent School District (HISD) administration recommends that all or a portion of the Series 2014A-2 Bonds be remarketed to bear interest at a new term rate for a term rate period commencing June 1, 2025. The duration and other terms of the new term rate period for the Series 2014A-2 Bonds will be at the discretion of the superintendent, chief financial officer, and controller (each an authorized representative).
The Series 2023C Bonds currently bear interest at a term rate for a term rate period ending June 1, 2025. The administration recommends that all or a portion of the Series 2023C Bonds be remarketed to bear interest at a new term rate for a term rate period commencing June 1, 2025. The duration and other terms of the new term rate period for the Series 2023C Bonds will be at the discretion of authorized representatives.
The order being considered also provides that at the discretion of the authorized representatives, all or a portion of the Series 2014A-2 Bonds and/or the Series 2023C Bonds may be redeemed in advance of their maturities on June 1, 2025, in a principal amount not to exceed $122,000,000.
COST/FUNDING SOURCE(S):
All interest costs and debt-servicing costs are paid from the Debt Service Fund.
STAFFING IMPLICATIONS:
None
THIS ITEM DOES NOT ESTABLISH, MODIFY, OR DELETE BOARD POLICY.
recommendation
RECOMMENDED: That...
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