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File #: 24-573   
Type: Agenda Item Status: Agenda Ready
File created: 10/18/2024 In control: Consent Agenda
On agenda: 11/14/2024 Final action:
Title: Approval Of Order Authorizing The Issuance Of Houston Independent School District Limited Tax Refunding Bonds
Sponsors: Jim Terry
Attachments: 1. Order
Date Action ByActionResultAction DetailsMeeting DetailsVideo
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Office of the Superintendent of Schools

 

Office of Finance and Operations

 

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Approval Of Order Authorizing The Issuance Of Houston Independent School District Limited Tax Refunding Bonds

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This agenda item seeks School Board approval of an order authorizing the issuance of Houston Independent School District (HISD) Limited Tax Refunding Bonds, as term-rate or fixed-rate bonds, in one or more series; setting certain parameters for the bonds; and authorizing a pricing officer to approve the amount, the interest rate, and price, including the terms thereof and certain other procedures and provisions related thereto.

 

The administration recommends authorizing the issuance of up to $889,765,000 principal amount of bonds to refund certain of the district’s outstanding bonds, subject to achievement of a minimum present value savings threshold of three percent.

 

The order approving the refunding of up to $889,765,000 in principal amount of the outstanding bonds and provisions relating thereto is attached.

 

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 the School Board approves the order authorizing the issuance of HISD Limited Tax Refunding Bonds of up to $889,765,000 in par amount for the refunding of certain of the district’s outstanding bonds, at the discretion of the superintendent, the chief financial officer, or the controller of the district, effective November 15, 2024.