Agenda Item
Meeting Date: 7/30/2020 - 6:00 PM
Category: Future Action Item(s)
Type: Info
Subject: Bond Refunding
District Goals:
Goal 1
Thriving Students
Goal 2
Engaged Community
Goal 3
Empowered Staff
Enclosure:
File Attachment:
Crowley ISD Txbl Ref - 7-27-20.pdf
Crowley ISD Txbl Ref Presentation 7-28-20.pdf
Summary: Attached is a taxable refunding scenario that was run on Friday using current rates plus 0.10%. The first page shows the projected potential savings in column 7 and the second page shows the issues/maturities to be refunded.

In a discussion with Hilltop Securities, $1 million in annual savings would allow for about $25 million in borrowing capacity (4% borrowing rate on $25 million = $1,000,000 annual interest) for a potential future authorization.
Budgetary Impact: More information will follow. This presentation is to inform the Board that the possibility of refunding exists and the District is pursuing options that will be brought back to the Board for action at a later date.
Recommendation: This is a future action item. No action needed at this time.
Approvals:
Recommended By:
Signed By:
Stacey Adrian - Chief Financial Officer
Signed By:
Michael McFarland - Superintendent