Pflugerville ISD pays off $9 million in bond payments

Pflugerville ISD board of trustees approved a $9 million defeasance, or payment, in bonds March 22 with the aim of saving the district money in the long run. PfISD Chief Financial Office Kenneth Adix said the district set the debt-service tax rate at $0.50 per $100 valuation in 2012, which allows them to pay off more of the bond than what is required. “That additional money, just like tonight when the board approved roughly $9 million, that allowed us to pay off the bond earlier, and when you pay the bond earlier you’re not incurring that interest,” he said. “Had […]

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Source: Community Impact- Round Rock