Resolution 262-26 would authorize parameters for refunding callable portions of Academy District 20's Series 2017 general-obligation bonds. The packet says the 2017 issue had an original par amount of $160 million and $124,155,000 remained outstanding. Staff projected a true interest cost below 3.6%, approximately $7.7 million in savings through 2040 after issuance costs, and approximately 6.2% net-present-value savings, all subject to market conditions.
The resolution conditions issuance on NPV savings of at least 3% and compliance with its other parameters. The packet gives September 16, 2026 as a tentative issuance date and says the refunding would not extend the existing debt's life.
These figures are image-checked packet estimates, not final pricing or realized savings.
| Source | Target | Mechanism | Flow | Evidence strength | Source basis |
|---|---|---|---|---|---|
| Academy District 20 | RBC Capital Markets | proposed bond purchase agreement; named underwriter | purchase/placement of Series 2026 bonds and closing memorandum | direct evidence | resolution definitions and purchase-agreement form; proposed role documented, execution unresolved |
| Academy District 20 | UMB Bank, N.A. | registrar, paying agent, and escrow bank agreements | registration, debt-service payment administration, and custody of refunding proceeds | direct evidence | resolution and agreement forms; proposed role documented, execution unresolved |
| Academy District 20 | Computershare Trust Company, N.A. | existing custodian role under a custodial agreement | custody of district bond-fund account | direct evidence | resolution definition; present operational state not independently checked |
| Academy District 20 | bondholders of Series 2017 bonds | refunding and redemption mechanism | proceeds used to pay designated refunded-bond requirements | direct evidence | resolution and escrow-agreement form; proposed mechanism documented, final refunded maturities unresolved |
The purchase agreement expressly states that RBC would act as principal, not as municipal advisor, financial advisor, or fiduciary to the district. Butler Snow LLP appears in the form documents in connection with disclosure-counsel legal services. The packet does not identify every professional's final engagement terms or compensation.
The packet says the bond maturity schedule, price, dates, and other information were unavailable. The bond purchase, registrar/paying-agent, continuing-disclosure, and escrow documents remain forms containing blanks. The Preliminary Official Statement is described as “attached as to form” and available in its current version by request rather than included as a finalized transaction record.
The packet does not establish:
262-26;Retrieve the approved minutes and signed resolution, sale certificate, final official statement, executed bond purchase and escrow agreements, closing memorandum, verification report, final pricing wire, and later debt-service/audit schedules. Those records would convert the proposed mechanism into an executed transaction history.
Atlas Trace retains research captures and provenance records locally. Public
originals, when available, appear in the Original links section below;
internal archive paths and restricted materials are not public links. See
Sources, access, and local retention.