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 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 at the discretion of the superintendent and the chief financial officer of the district to reduce debt service costs.
The administration recommends the refunding of up to $160,980,000 principal amount of the district’s Series 2014B Bonds, subject to achievement of a minimum present value savings threshold of three percent.
The order and certificate for order approving the refunding of up to $160,980,000 in principal amount of the outstanding bonds and related provisions relating thereto is attached.
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COST/FUNDING SOURCE(S): |
All interest costs and debt-servicing costs are paid from the Debt Service Fund. |
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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 order authorizing the issuance of HISD Limited Tax Refunding Bonds of up to $160,980,000 in par amount of all or part of Series 2014B, at the discretion of the superintendent and the chief financial officer of the district, effective April 12, 2024.