Office of the Superintendent of Schools
Office of Finance and Operations
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Approval Of Resolution Regarding The District’s Intention To Issue Tax-Exempt Obligations
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In alignment with the district’s strategic capital improvement initiatives, the administration recommends approval of a resolution regarding the intentions of the district to issue lease revenue bonds by the Houston Independent School District Public Facility Corporation (PFC) to finance the acquisition, construction, development, and equipping of a new Career and Technical Education Center and authorize the reimbursement of project costs incurred prior to the issuance of the obligations with proceeds of the obligations.
The resolution affirms the district’s intent to reimburse capital expenditures incurred prior to the issuance of the bonds with proceeds from the obligations. The maximum principal amount of the obligations is $182,500,000. This action complies with Treasury Regulation §1.150-2 and ensures the district’s eligibility for federal tax-exempt treatment on the obligations.
The firm of Jackson Walker LLP is serving as bond counsel and Estrada Hinojosa is the district’s financial advisor for this transaction.
The resolution is being submitted no later than 60 days after the date on which the district will expend money for the portion of the project costs to be reimbursed from proceeds of the obligations.
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COST/FUNDING SOURCE(S): |
Costs incurred before funding will be paid from the General Fund and refunded with proceeds of the obligations. |
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STAFFING IMPLICATIONS: |
None |
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THIS ITEM DOES NOT ESTABLISH, MODIFY, OR DELETE BOARD POLICY.
recommendation
RECOMMENDED: That the School Board approves the resolution authorizing the reimbursement of project costs incurred prior to the issuance of the obligations with proceeds of the obligations, effective November 14, 2025.