During the meeting the EPISD Board of Trustees heard a presentation from David Gonzalez of Public Financial Management Inc. and Bond Counsel Juan Aguilera of Escamilla & Poneck.
Gonzalez presented the Board information regarding the proposed issuance, which will pay itself off from savings coming from the energy savings and maintenance projects the School District will undertake with the funds.
Gonzalez added that if the board were to approve the issuance, that the bonds were to be purchased by Key Bank.
Once that is taken care of the funding will come in by November 7 and the School District may begin the process to choose what maintenance projects it will undertake.
The tax notes are to be used to finance certain lawful expenditures of the District through the issuance of such note to address energy efficiency issues at all District buildings.
The EPISD Board of Trustees approved the sale of the 2019 Maintenance Tax Notes on a unanimous vote.