Austin Independent School District
Unlimited Tax Refunding Bonds
Series 2016A

Austin Independent School District

Invest in the Austin Independent School District! Proceeds from the bonds will be used to reduce debt service costs on outstanding debt. The refunded bonds were issued for a variety of purposes, including construction, acquisition and equipment for school buildings.


Issuance characteristics
  • Refunding
  • Not callable
  • Federally tax exempt
  • General Obligation
  • Negotiated sale

About this bond issuance

  • Purpose

    Proceeds from the sale of the Series 2016A Bonds will be used to currently refund a portion of the District's outstanding commercial paper notes (the "Refunded Notes") issued for a variety of purposes, including construction, acquisition and equipment of school buildings and purchasing the necessary sites therefor and to pay costs of issuance on the Series 2016A Bonds.

    Proceeds from the sale of the Series 2016B Bonds and Series 2016C Bonds will beused to refund a portion of the District's currently outstanding bonds (the "Refunded Bonds") to provide debt service savings and to pay for costs of issuance on the Series 2016B Bonds and Series 2016C Bonds (see "SCHEDULE I - REFUNDED BONDS"). The Refunded Notes and the Refunded Bonds are referred to collectively herein as the "Refunded Obligations."

  • Obligor

    Austin Independent School District

  • Issuer

    Austin Independent School District

  • Authority

    The Bonds are issued pursuant to the Constitution and general laws of the State of Texas, including Chapter 1207, Texas Government Code, as amended, and an orderpassed on June 20, 2016 by the Board. In the Bond Order, the Board delegated to certain officers of the District authority to complete the sale of the Bonds. The terms of the sale are included in "Pricing Officer's Certificates, "which, in conjunction with the bond purchase agreement with the Underwriters, complete the sale of the Bonds. The Pricing Officer's Certificates were executed by an authorized District official on August 4, 2016.

  • Security

    The Bonds constitute direct obligations of the District, payable from a continuing, direct annual ad valorem tax levied against all taxable property within the District, without legal limit as to rate or amount, as provided in the Order. Additionally, the Series 2016A Bonds and Series 2016B Bonds will be guaranteed by the Permanent School Fund of Texas. The Series 2016C Bonds will not be guaranteed by the Permanent School Fund.

Ratings

Ratings

S&P

Aaa

Moody's

AAA

Fitch

Financing team

Neighborly Securities
Neighborly is a market participant on this issuance.