Ector County I.S.D. Selling Bonds For Major Improvements
By: Dylan Brooks
Updated: January 23, 2013
ODESSA -- Ector County I.S.D. is now issuing bonds to fund major improvements across the district.
The E.C.I.S.D. Board of Trustees unanimously authorized the sale of bonds during their January 22nd meeting.
Ector County voters approved $129,750,000 worth of bonds for E.C.I.S.D. in the November 6, 2012 elections.
The bonds will be sold by E.C.I.S.D. administrators, a financial advisor and underwriters over the next six months.
Bond sales will end on July 22, 2013.
The bonds -- which have a maximum amount of $129,750,000 -- will have a maximum true interest rate of 4 percent and a maturity date of August 2028.
The sale of the bonds have been structured so that about $30 million worth of bonds can be pre-paid (paid off early) between 2014-15 and 2017-18.
The remaining $100 million in bonds would be pre-paid beginning in 2022-2023.
The bonds will be sold as soon as possible based on optimum market conditions.
Financial advisors say that market conditions are currently very good, since interest rates have dropped 20 percent since the E.C.I.S.D. bond election was called.
The E.C.I.S.D. Board of Trustees unanimously authorized the sale of bonds during their January 22nd meeting.
Ector County voters approved $129,750,000 worth of bonds for E.C.I.S.D. in the November 6, 2012 elections.
The bonds will be sold by E.C.I.S.D. administrators, a financial advisor and underwriters over the next six months.
Bond sales will end on July 22, 2013.
The bonds -- which have a maximum amount of $129,750,000 -- will have a maximum true interest rate of 4 percent and a maturity date of August 2028.
The sale of the bonds have been structured so that about $30 million worth of bonds can be pre-paid (paid off early) between 2014-15 and 2017-18.
The remaining $100 million in bonds would be pre-paid beginning in 2022-2023.
The bonds will be sold as soon as possible based on optimum market conditions.
Financial advisors say that market conditions are currently very good, since interest rates have dropped 20 percent since the E.C.I.S.D. bond election was called.
