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Northeast Times | September 22, 2021

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NISD Board Approves Unlimited Tax Refunding Bonds

NISD Board Approves Unlimited Tax Refunding Bonds

At the October 13 School Board Meeting, the Board of Trustees unanimously approved unlimited tax refunding

bonds of approximately $14 million, increasing the total savings to district taxpayers to $52,063,007 this year.  Administration has worked with the district’s financial advisor, First Southwest Company, to bring a parameter

order authorizing the issuance of bonds for a Tax Exempt Advance Refunding of series 2005, 2008, 2009 and

2010 bonds that would lower the interest cost to the district and its taxpayers.  This year, the board has approved three unlimited tax refunding bonds which have reduced the district’s overall debt service requirements:

 

Series 2015 (January 2015)         $15,395,575        Actual Savings

Series 2015A (July 2015)            $22,762,776        Actual Savings

Series 2015B (October 2015)      $13,904,656        Actual Savings

 

To put in perspective, the district’s savings equaled the approximate cost of two new elementary schools or one middle school.