NEWS
BISD acts on bond refund; reviews budget options
By BARBARA GREEN
editor@bowienewsonline.com
Bowie School Trustees will move forward with a bond refund plan that will save the district more than $19,000 a year in interest during the final 10 years of the bonds.
The board met Thursday night in a called session to hear the bond proposal and to continue work on the budget proposal. Lewis Wilks, U.S. Capital Advisors, and Tom Sage, bond counsel with Hunton Andrews Kurth LLP discussed the plan via a zoom meeting with the board.
These are 2012 bonds callable in 2021. The refund will be on $5,520,000 in bonds. The district has been paying an average interest of 2.26 percent with the true interest at 1.23 percent. Wilks said the difference is the savings to the district which will be $233,771. It was pointed out this refinance does not impact the term or extend it.
Read the full story in the mid-week Bowie News.
Members of the Bowie City Council will meet in regular session at 6 p.m. on May 13 in council chambers.
The meeting opens with a proclamation for Emergency Medical Services Week.
City Manager Bert Cunningham will report on recent rainfall problems, Smythe Street sidewalk project and the substation work.
There is only one item of new business an ordinance related to speed limits on specific streets. Public comments and approval of minutes wrap up the agenda.
The board of directors of the Amon Carter Lake Water Supply Corporation will meet at 6 p.m. at Carter Lake Baptist Church 4759 FM 1125.
Agenda items include an engineer’s presentation and resolution workshop with Daniel Deweber and Prairie Branch Properties.
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