001recording in progress. World meeting special session 6 p.m. uh Thursday, October the 23rd uh 2025 in the administration building room board 613 B Westala Street, Crystal City, Texas. And uh at this time uh can you >> 601 >> roll call 601 roll call >> here. >> Sammy Houston >> here. >> Victor Bourne the third Martinez >> here. Do >> you know any of those three calls that they were not going to be here? >> Sammy did >> Monday. Sammy did >> did not >> what about >> uh not to my knowledge um Anna said that Mr. Houston had said that he could not make it. >> Okay. >> Still have a forum of uh Mr. M. And okay uh number three we're going to have a moment of reflection. Number four, uh, public comments for
002agenda items. Uh, there's none. Okay. Number five,formational discussion. Uh, at this time, uh, going to hear the, uh, presentation by, uh, Mr. Karina Financial uh contracting LLC regarding a plan of finance to discuss the anticipated financial terms of the uh proposal bond and the possible uh adoption of a permanent order. Mr. Hina couldn't be with us uh uh tonight. Uh his father is still in the hospital, but we have one of his attorneys that will be making uh the presentation. Uh, >> Mr. Lra. >> Yes. Does everyone have a presentation? >> Yes, sir. >> Okay, >> great. I know we have some extras if anyone >> is. >> It's not printed out for us. >> Okay. >> I'm sorry. I thought on I had put it in your pocket. >> I don't think any of
003us have it. I have I have >> I need Thank you. >> Yes, sir. >> Well, good evening. Yes, Thomas Estraats uh from T Arena Financial Consulting again. Robert sends his best and apologize for not being able to be here. But um tonight we're going to cover what uh the preliminary uh plan of finance looks like for what would be a series of refunding bonds to potentially be issued in 2026, the first part of 2026. And then your bond council uh Mr. on here will um discuss the parameters order and what all has gone into that which essentially uh gives the uh the financing team the authority to move forward with getting started on all the processes to do the financing and then we'll obviously wait for interest rates to be advantageous enough to maximize
004savings for the district. So >> really what we're doing tonight I mean is uh you going to give us a presentation and and through through The board will decide, but this is like uh so that if there's interest are going down, we will all be we'll be ready for >> Exactly. Right. We'll be ready to move as quickly as possible to the come back >> for a board meeting date. You know, we want to be able to try to time the market as best we can with the with the goal of maximizing the interest savings for the with the >> Sorry. I mean, go ahead. Uh just to get started, I've got here on the first slide a look at your existing INS. So that's all your debt is paid for with the INS tax
005rate. Um you have five series outstanding. Uh from 2014 through 2021, it's 32,775,000 outstanding. The total payoff right now on that is 42 million and change about 42.1 million. Um I've highlighted in green there the two series. This is the unlimited tax refunding bond series 2015 and unlimited tax school building bond series 2015 that we are looking to refund um with this upcoming transaction. So the first one is outstanding in an amount of about 3.3 million. The second one is about 20 million outstanding. And so those are both currently callable which means they can be refunded with the tax exempt bond itself. >> Can you repeat that? >> They're both currently callable. If you look at the column there with the call date, >> um those are terms set out in the in when you
006originally sell the bonds. So in 2015 when you sold those bonds, they were sold with a call date of of February 15, 2025. And so up until that point, you could not refinance them with a tax exempt bond. You would have to take them out with a taxable advance funding bond. Um, and so now that they have been callable since February, but interest rates have not been in a place where there's been positive savings, the market has begun to move in your favor. And so now we're looking at the possibility of being able to move here within the next six months on the refunding transactions. Um, on those specific two two outstanding, the 2021 and uh both the 2021s, I should say, are not callable. So they are not eligible to be refunded. Um, and
007then below that is your maintenance and operations debt. that debt is paid for with the M tax rate and other M funding. Uh that's outstanding amount about 1.87 million. And so those are not up for discussion, but just wanted to include that there for you all. Any questions so far? The next slide after that is look at what current market rates. So I ran this analysis on the 21st um so it's fairly fresh what current market rates look like with the refunding of those two series. Um, now with bonds, each maturity of the bond has its own interest rate. So not there's not one set flat interest rate for each maturity of the bond. So you can see there in that outstanding interest rates column in that middle section, you have outstanding interest rates from
008about 3.125% through 5%. And again, so each maturity has its own interest rate. And so each maturity when we look at a refunding, we look at whether that maturity generates positive or negative savings. Um just like with a mortgage, if you have a lower interest rate on a particular maturity, it's harder to refinance because you already have a low interest rate. And so depending on the market, some maturities generate positive savings and others don't. So right now uh if we were to refund this today, we would refund uh 11.7 million uh with a refunding bond amount of about 11 million. We would fund coupons of 3.125% through 5% for an NPV savings of about 320,000 and uh 2.71% there. Off to the left is a look at what the prior debt service is. So that's
009the debt service on the refunded bonds. The column to the right of that is the refunding debt service. So the new principle and interest on the refunding bond. The third column is the gross savings. And then the fourth column is the net present value savings. The the savings in 27 and 30 and 31 are negative. That is because in 2021 the district issued a taxable series 2021 were funding which refunded the 27 31 and 32 maturities on these 2015 bonds. So now we have no bonds to refund in those years and so those are interestonly payment years. And so due to prevailing interest rates in the market right now, the rates we are getting are a little bit higher which is resulting in a slightly higher interest cost in those years. But overall um again
010as of the 21st you're looking at gross savings to the district of about $365,000. And so as of right now we would not move on the transaction because we want to be north of 3% on a net present value savings basis. and we'd like to at least be double the cost of issuance on a dollar basis for the district. And so if anyone has any questions on this, um I'm happy to answer, but if not, I'll look at at kind of what we're hoping the market will do for us in the next six months to where we can again move forward with this transaction for the district. >> So you'll only move forward if the savings is greater than 3%. >> Yes, sir. >> Okay. >> And that'll be that's also in the per order
011as well. And does that savings is that 3% I mean I know it costs money to issue these bonds right sir. >> So does that 3% include that cost as well? >> It does. >> Yes sir. >> Yeah. So essentially the formula for it is what is the amount of refunded bonds 11.715 million. Uh we we divide about 317,000 the NPV savings by the refunded bond amount to arrive at the savings percentage. But yes, yes sir. It does include the financing fees which are paid for out of bond proceeds, not by the the district funds. Okay. >> Yes, sir. >> Okay. Okay, on the next slide is essentially what would it take for us to get to a good spot um to save the district a good amount of money meet our targets again north
012of 3% be double at least 2x at least the cost of issuance uh on the bonds the newer funding bonds and that's about a 30 basis point or 3% movement in the market um really since October the 15th our bond market that we that we track and these bonds price off of has done nothing but go steadily down and so it's actually moving even over the past several days since I ran the analysis in your favor. Um, so that's all good signs. With the movement of the market again about 30 basis points, we would be able to add more maturities from those two series 2015s to the refunding. They don't work now, but they would work with lower borrowing rates about 30 basis points less. And so you'll see here the series 2015 we actually
013increased the refunded amount to 18,870,000 and we're funding maturities 2028 through 2040 series 2015 I believe the same yes and we're refunding maturities 2032 through 2036. So you can see here with that market movement we increase the amount of refunded bonds. It goes from 11,715,000 to 20 mil 21,445,000. The refunding par so the new series 2026 refunding bond would be issued in an amount about 20.5 million and the savings increase to about $86,000 and 300 or 3.76% on a net present value basis on a gross basis. So what is it future value principal and interest savings to the district? It's just shy of around a million $975,000 interest savings for the district and then therefore the taxpayer by by executing this for funding. Anything the market does beyond 30 basis points is just more savings
014to the district and the taxpayer. And so we won't necessarily move the mark we think the market we see continuing to move. we're talking with the underwriters, our other partners on the transaction and they're confident that we could wait a little bit longer to get maximized savings. We would certainly talk with the district and and potentially wait to again ideally achieve the maximum savings for the district. So that's a lot of information. I know um I should have mentioned, I'm sorry, but it's about an average annual savings of $65,000 per year um with an overall savings of about 975,000 uh with a 30 point decrease in the market. Um any questions on those two slides? The extended payment I guess it extended four years. So we by adding some more maturities to the refunding with
015the market movement that does extend what we do is we match every year that there's a bond to refund we would have a a maturity that matched it in the refunding bond. We would not extend uh the maturity. So if you all are familiar with the PSF guarantee program for the state um it's essentially a bond insurance program that's a $1,500 application. Uh we submit some items to tea. They review the application and they provide the PSF guarantee on your bonds which imparts a AAA rating on the bonds. So in order to qualify for that you have to demonstrate that the refunding generates positive NPV savings and does not extend the maturity of the refunded bonds. And so um we would not certainly not extend it because it's very important for this transaction to maximize
016the savings that we get that AAA rating on the bonds. The next slide is going to be a little bit difficult to read, I guess, but essentially it's a lot of the same information from the the previous slide looking at what what the refunding would look like if the market moved 30 basis points in our favor. That column E is the same refunding bond debt service that you saw in the previous page. Column F is the same refunded, so the series 2015 bond debt service you saw in the previous page. And then column H represents what is your new total debt service requirement. So you can see from column D you go from about 45,782,000 to 44,511,000. Um that's just an estimate again based on kind of current market rates what the refunding looked like.
017Um as of a couple days ago less 30 basis points. Um we did not project any future growth in your value. You can see in column B we took your your fiscal year 26 values about 1.5 billion left it flat and you can see your current year tax rate.2479 would be the highest projected tax rate assuming no growth in your value. So your tax rate would only decline um from there. It would you know we project a slight increase in those years where they're the dis savings. Um but again that is totally dependent on what the values are in the district at the time. Um, overall you're looking at again about a million dollars in well $975,000 in gross debt service savings. >> Savings. >> Yes, sir. >> Savings to the district, savings to the
018taxpayer. Um which again uh it's a very good opportunity and one that by passing this parameters order we would allow us the authority to kind of get the ball rolling, monitor the market conditions and then be ready to move um quickly whenever we can we can uh strike I guess and maximize savings for the district. So the next slide is a preliminary uh again look at the time table for the transaction. This isn't a perfect world. the market just keeps moving in our favor. Everything looks great. We can we don't have to wait around for the market to to get where we need it to be. Um we're obviously meeting tonight, October the 23rd. We'll submit the PSF application to TEA by the end of this month, so it'll be up for consideration here quickly.
019Um once we get the approval on that, that would be um marketed to investors so that they know the bonds have received that bond insurance from the state of Texas that guarantees the bonds. Um, we would we would do a couple terms of what's known as a preliminary official statement. That's essentially an offering document with financial information about the district and a bunch of other information related to the bonds that investors would look at when they're looking at whether they'd like to, uh, invest in these bonds. And then again preliminary uh we would look to price the bonds sometime in early January and then about 30 days later is when we would close the bonds and that's when that money would be sent to pay off those series 2015 bonds. So you'd essentially be rolling
020up those two series 2015 bonds into one singular series 2026 with lower overall principal and interest payments. And again very much preliminary. It's totally dependent on the market, but um this is what again in an ideal world, you're looking at about 3 to four months of work to get this done. And so uh again we can start essentially tomorrow um on getting all the the necessary documents prepared all gathering all the financial information working with the rest of the working group who we describe on the next slide um to to get the transaction to a point where we can be ready to move um whenever we can maximize those savings. >> Are there any deadlines for when the PSF application has to be submitted at TA? >> Not with a refunding. With a new money
021bond, there is a deadline for the end of the month for it to be considered in the next round, the next month. Uh if you get it in by the end of the month, it's considered in uh in the next month and you get your um determination, your your approval letter in the next month. With a refunding bond, they're not subject to that consideration deadline. So, we did a similar presentation and parameters order um at Rio Hondo and Kingsville and they both already received their we we did those those meetings earlier this month and they both already received their PSF approval. Um and so we on our end we submit the application fee. We submit all the necessary documentation and then when the bonds close part of the bond funds will use nothing that will
022first paying off the bonds but part of the issuance funds will be used to reimburse the $1,500 application fee. >> And is that PSF um is it automatically approved or I mean >> it's not automatically approved. What we need to submit with it is uh a preliminary savings schedule again demonstrating that the refunding is going to generate positive savings and not extend the maturity of the bonds. Preliminary maturity schedule for the the new refunding bonds. Um we have to answer several questions. We have to identify members of the working group, members of the district that would be included on the emails to and from TEA. Um but I have not personally had one that's been denied. I've been doing this almost 10 years. Um, so as long as everything looks in order and we've actually
023been in contact with his name is Jim Moore is the financial analyst who reviews the applications to ask him specific questions about, hey, if we have a dis savings in certain years due to interest, is that going to affect the the the ability to get PSF? It did not. We had the an instance at Kingsville where there was a negative year and they received their approval. And so we fully anticipate that um the district would receive approval and then again we would go to the rating agency with that approval and they would issue their rating based on the PSF guarantee on the bonds. Any more questions on that one? Uh I think this is the last slide here. This is a look at the proposed working group. Um I included on the far right also
024an estimate of cost of issuance. Um, I'll just go through the role and and then the firm first and then we can talk about potential cost of issuance. The issuer obviously is yourself, the district, Crystal City ISD, financial adviser, Trenina Financial Consulting, Bond Council, Esam, and Pontic. Others, three of them proposed right now. Uh, Hilltop Securities, FHM Financial, PNC Capital Markets. And I want to stress that including more underwriters does not increase the cost to the district. They simply split what would be the total cost of having just one underwriter. But by including more uh of different sizes and market participation, we get access to more diverse investors and essentially it can help market the transaction, get more investor interest in the transaction. And just like anything else in life, the more people that are
025interested in investing in the bonds, the actual lower rate we can get for the district because if they all are interested in that investment, we can actually go to them and say, "Hey, we'd like to lower the rate at the time of pricing." And so by accessing more investors, that actually does uh provide a benefit to the district. And again, the proposed split on that would be 60% to Hilltop Securities as the the senior manager and then 20% and 20% to FHN and PNC respectively. Um, underwriters council is essentially their version of bond council. They advise the underwriters on all legal matters. Um, that's up for consideration and and the underwriters would propose a firm. Um, so that is still to to be determined. Uh, the escrow and paying agent is BFF. um they would
026hold the money in escrow until it's paid off um used to pay off the bonds. They would also be paying agents. So they would be the one sending the district invoices for the new future bond payments to to uh get the money to the bond holders. Verification agent is essentially someone that takes a look at the escrow from the final numbers and verifies that the money that we have in the escrow is sufficient to pay off the refunded bonds. So, it's simply a double check um on the math of the transaction to make sure that when we close the bonds, the amount that goes into escrow is sufficient to make the uh the payment on the refunded bonds. The rating agency we would use would be S&P. They previously rated the district before. Bond insurance
027again is the PSF bond guarantee program. And then there are a couple other miscellaneous fees. Really the only other one not included is a printer which is someone that would print any hard copies of the official statement and then electronically distributed uh to the market and other working group members. um estimated cost of issuance and again this is based on the preliminary amount of about 20.5 million 20,475,000 [Music] um financial advisor based on the contract that we had uh I think up for consideration a month or two ago I wasn't at that meeting but our fee is approximately $120,000 about 1 half of 1% of the transaction bond council is about $56,000 underwriter is call it about $120,000 as well. Again, all of this is preliminary to be determined throughout the transaction. We won't have
028final numbers until we do the pricing and the bond par amount is set. >> So, it can go higher. >> Uh if you if you issue more bonds, it could go higher, but we wouldn't move on the on the transaction if the bond amount was going higher, if that makes sense. Um this is again based off of a 30 basis point move. If it continues lower than that, the bond amount right there at the bottom, the 20.475 million would actually go down. And so most of these are based on the size of the bond. They're kind of a tiered structure fee. And so if the bond amount goes down, then the cost of issuance would also come down as well. Uh underwriters council is is something that the underwriter proposes on a transaction of this
029size would probably be about $15,000. escrow and paying agent. Typically, they charge about 2500 for escrow and about 500 for paying agent. Verification agent, we work with the arbitrage group frequently and their usual fee is about $2,500. The rating agency fee is normally about $25,000 on a transaction of this size. Again, the $1,500 PSF program. Um, that's the cost to submit the application and get the approval. And then other fees we would structure in some contingency in case something came up and we needed a little bit of extra money to pay someone um due to shortfall on their estimate, whatever it may be. We just like to get that in there. Any leftover contingency is sent back to the district at closing. It doesn't go to any working group member. Anything that is above and
030beyond what is invoiced by one of these working group members is returned to the district to be deposited in the debt service fund. So you don't have to we're not going to build in a bunch of contingency and then split it up amongst ourselves as an extra little bonus. It goes back to the district. So wanted to stress that. Um any questions on any of this information >> that that amount is taken out of the savings credit? So if you look at the amount we don't I have to go back but looking at a refunded par amount of 21,445,000 and a refunding bond amount of 20,475. So we're issuing less bonds than we're refunding. The difference is made up with premium which is essentially just the market is willing to pay more than $1 per
031bond because of the the safe nature of municipal bonds again with the with the backing of the permanent school fund program. And so our fees will actually be paid out of the premium, not the bond amount, if that makes sense. If you look, there's a difference between the refunded bond amount, refunding par amount um of about a million dollars. So that difference is paying our fees and also helping with the savings. So there is a you know it it will affect the savings in that sense that more premium won't be um applied to the savings but um it does not cost the taxpayers more because the the bond amount is what they pay principal and interest on not the premium that makes sense to get I mean do you have me and to >> uh
032yes as a matter of fact the next agenda item action item is the uh the actual order to uh it for you all to consider whether you want to move forward or not and I can explain the parameters explain what the law is and all those different things but my presentation is >> hopefully pretty straightforward this is this is pretty you know not a complicated Mr. Loses >> based on your experience. I mean, >> I like the savings. I like to say the taxpayers. >> I'm very much in favor of this. Uh, we've done some before and in I know the gentleman that runs the office known for a number of years. I didn't understand position as well. We're very comfortable with with the presentation, the projection that they have and the guarantee that they
033won't sell unless we achieve the same significant savings and all of the information week over week. Um, what the market's doing, what the savings are doing, we'll make sure that we're communicating that with the district so that they can continue to communicate that with y'all. Um, again, our goal serving as a fiduciary to y'all is not to do a transaction just to do a transaction. It's again, we want to maximize the savings for y'all. And so we're going into this with that in mind and that being the main goal and the other partners in the working group um including the underwriters are obviously aware that our goal in the transaction is to get the best result for the the district which at the in a transaction of this type is to maximize. So um at
034the day of sale is when we would come back next to present the results of that sale. So, we would have all of this information finalized. So, you would be able to to have that information handy and digest that and put it out to the community, things like that. >> Uh, quick question just for my purposes, uh, to learn a little bit more. What's the difference between tax refunding and refinancing? >> Is there a difference? >> There in our language, we say a bond refunding because we're issuing a new refunding bond, but essentially it is a refinancing. you're taking old loans and refinancing them with a new bond at a lower rate. >> I had asked that a while back and I was just okay. Is this the same thing? They told me no at
035first and now. >> So, it's it's very I just wanted to make sure. >> Yes, sir. >> Interesting. Thank you. >> Yes, sir. >> Becky, do you have any questions? >> Thank you, sir. >> Yeah. Thank you very much. >> Thank you. Uh we're going now to uh B action item considering possible approval of an order authorizing of interest sale and delivery of city district unlimited tax refunding bond levy and continue erect annual valerant tech the payment of the bonds authorizing and and authorize representatives to approve the amounts, interest, rate, prices and terms therefore of certain other agreements, procedures and provisions related to and approving other matters incidents to therefore uh are you going to >> Yes. >> So at this point we would like to ask Mr. A from Esamia uh to come present
036to the board the parameters order. Mr. >> Okay. Right. And I always start off for the for the record and uh we are the uh the district's bond attorneys. So we've been working with the district for for many many years and we appreciate the uh the the ability to be able to continue working with you all. Uh Mr. Mr. uh board and miss superintendent. So what we have done and I always start off with apologizing for the long agenda language but uh that is something we want to try to follow and try to be as clear as we can. Um what we have done is prepared an order and um in essence uh the district has done and we've done one or two refundings that we've done with the district that we use this type
037of a financing uh which the board will now consider the adoption of a of a what we call a parameters order. Uh the the law was changed several years ago uh to where now um school districts, cities, counties when they have funds that are out that are outstanding and you want to refinance them um you're able to adopt a parameters order and as you know as as I think maybe one of the things you can gather from the presentation uh that Mr. Lstraps made is that all of these finances are pretty much market driven. So the market goes out, you know, the interest rates start going up, there's not going to be any savings. It's not going to happen. So, it's the uh the legislature recognized that, realized that and said, you know, for refundings,
038you know, when you're going to considering refinances, you can go ahead and adopt a a uh a parameters order and and that way if for whatever reason the market is just right, then and you're able to to maximize your savings, then you can go ahead and move forward and we'll be able to say we're selling the bonds and that's the end of that. So, you are approving uh for the sale to happen at a later time provided that certain parameters are met. And I'll read you what the parameters are. So, the the order as provided by law authorizes the um a a representative of the district to be able to and if you adopt this order, you're authorizing these individuals to be able to act on your behalf to be able to finalize and and
039and sell the bonds and and so u you know approve the signature and and provide a signature to approve the bonds and um the the parameters that we have established for this particular financing with the work with the help of of the uh your financials advisors is that and also your staff is that we're looking the amount of the bonds in the future to be considered uh can only be uh an amount not to exceed 24,110,000. That's that's correct. >> Yes. So that includes all eligible maturities that could possibly be refunded. Again, some of them don't work, but we always want to set the parameter to be the maximum amount that you have available to refund because if for whatever reason the market moves so drastically that we can now include them, we don't want
040to be limited by having not included them today. >> Exactly. So, so we what we have now is we have an amount we've set a ceiling of $24,110,000 and I don't know do you all have the order um that you all >> so if you look on page three of the order that I have section one second paragraph you'll see there that we have have in there towards the middle of the paragraph we have that the principal amount may not exceed 24,110 10,000. The other thing as uh Mr. Lstrabs mentioned is that we are looking for a net present value savings and net of expenses. You know, you after you pay your expenses, you have to have a minimum present value savings of at least 3%. And that the um the interest rate, the net
041effective interest rate cannot be more than six and a half uh percent on on the bonds. So those are the parameters parame I'm sorry parameters that you that you establish in with this particular order. Also you're uh um as noted at the beginning of that second paragraph in section one uh you're saying that the board president or the superintendent can then be able to are are going to be the authorized representatives and they can be able to act on behalf of the board if these parameters are met. So what will happen is is that uh your financial advisor along with your your staff will be monitoring and they'll be working on these financing as soon as they they know that we can be able to achieve the savings and the taxpayer savings that that will
042happen. Then they will come in and make a recommendation and they'll say, "Okay, here's here's what we got. Here's what we can be able to do." based on that recommendation then um your staff and Miss and Miss Biones and of course she'll have discussions with you all she'll say okay I think we recommend that now is the time to go ahead and move forward we have we will then prepare once they tell us that yes this looks good we will prepare uh it's like a three-page approval certificate and in there we will have all the interest rates all the payments that have to be made all of that will be included in that uh document And so that then we're we're now going to be uh be able to move forward and with the approval.
043Again, if if you author if you approve this order, you're then authorizing the superintendent or the board president to be able to act on your behalf and be able to move fast and be able to get the financing accomplished and the savings realized. So, so that's uh what we have in place. The last thing I wanted to mention is and it's also towards the very end of that that second paragraph on section one that is on page three. It says that the this delegation of authority to sell bonds as provided herein will cease six months from the adoption of this order. So this order again if if it's your pleasure to to approve is only good for six months. It's not going to be forever. So it's only good for six months and if the
044financing of the savings are not going to be there within six months then that's the end of this this particular order that we have and and uh and then if it happens and it's happened to me in the past. uh if it happens for example let's say that on the seventh month >> things start looking better again and then we want to consider a refinancing at that time we will have to come back again and present you another order and start all over again so again this is good for six months and only six months that you're given that that authority to be able to move forward um again as I mentioned this is a a refinancing it's a It's it's a financing that uh that is not new to the district. Um and and
045again it's it's something that we've done in the past and and something that we we see a lot of school districts are using right now. Currently I know in working with uh with Mr. Tarina Mr. Lstraps and and their their company we are working considering right now three financings with some area school districts here. Yesterday we closed one for COMA for $180 million refunding and earlier we did one for 260 thou60 million for San Antonio ISD. So the market is starting to to to provide this type of savings that that the districts are not considering and moving forward with these things. Um again uh your financial advisor they do a great job and they will make sure that the savings are there but also you can be rest assured that that unless the the parameters
046that are set uh are not realized then they can they know that they cannot move forward and legally they're not authorized to be able to move forward unless these these um these parameters are met. And uh I know in one of the questions I had uh in one of the the school districts that we represent was saying what happens if the interest rates go up? Well, if the interest rates go up and Mr. Lstraps will tell you then the savings is not going to be there. So the interest rate and the the net preset savings 3% are kind of working they work together kind of together. So, you know, that I think but the bottom line is that what we're going to be looking at is um the net present value savings has to be
0473%. Hopefully will be more. >> Sure. >> And I know they're going to be working real hard to try to get you more more savings than just 3%. So again, um we've listed I know uh that Thomas list uh told you we we listed in page one and page two the the candidates that we have. We have as for their instructions listed every single financing uh I'm sorry, every single maturity that's out there. Some of these may qualify, they may not qualify. Again, the goal is to be able to get that savings over here. And if if one of these doesn't make any sense, it's to respect the savings. So, they're not going to get done. But for right now, it it makes sense to go ahead and say this is what's out, this is
048what's owed, go out there and and give us the best best deal with whatever candidates are available. So, uh, Mr. Espinosa, if it's the pleasure of the board, a motion to adopt the, uh, the order is presented, uh, would be in would be in order. >> Any more questions from anybody? Uh, your recommendation, Mr. >> The recommendation is that the board of trustees approve the parameters order as presented. I >> have a motion. >> Motion by Mr. Mata. Do I have a second? That's it. Second. >> Second by uh Mr. Martinez. Questions, concerns? Not. All in favor? >> Motion carries 4 Z. >> Thank you, Mr. Deino. >> Thank you, sir. >> Thank you. Uh >> thank you, Thomas. >> I'm glad that I was able to make it last time and I know when
049you all did the tax notes, I wasn't able to go meet come here, but thank you for allowing me at that time to be able to do it by Zoom. >> Oh, yeah. Thank you. today you surprise us by what he >> try to make these things unless something comes up you know and and so yeah know it's important because and it's also self- serving because you don't get to see me that often you know and sometimes you say well attorney so it's it's it's for me it makes sense and and I know that that Robert and Thomas are real good about showing up just to and to say hello and to let you know we're still working for you Oh yeah, >> we appreciate it. We appreciate it. Thank you. >> Thank you all
050very much. >> Thank you. [Applause] Okay, we're going to go uh now to uh item two, discussion action to approve the uh donation by Adrien Gos for the uh rewiring of the audio system. at the Hawina Stadium. Mr. >> Yes, I am on page 104 of your packet. This is a donation uh that we are bringing forth to you uh uh speakers, the rewiring uh of the audio system at Havalina Stadium. Um and again, it's it's an action item for us to be able to receive the equipment, the equipment, and the work. >> That was very very kind of him. >> Yes. So, he did the whole press box, my understanding. Or I mean, fixed. >> No, they haven't done it yet. So, >> they haven't done it yet, sir. >> but what is it
051that they're going to do? >> They want to rewire the uh uh fix the wiring and then also add some speakers. Uh they're basically repairing some of our old speakers >> and uh and repurposing them, but they're they're donating the whatever. My understanding that uh the speaker the old speaker is going to be there >> will >> be fixed so when baseball season comes around. >> Yes sir. >> I mean >> we can shift. >> Yes sir. And that work's been done. It's been was done by our maintenance department. They remove the speakers and then they and then move it. Yeah. >> But uh they're going to come in and do the final work on it. So then everything's functional. >> Very nice. >> That's good. I mean uh recommendation is >> the recommendation is
052that the board of trustees approve the donation by Adrian Gyos for the rewiring of the audio system at the Havalina Stadium. >> Have a motion. >> Motion by Mr. Mata. Do we have a second? >> Second by Mr. Martinez. Questions, concerns? If not, all in favor? Motion carries. 4 Z. Number three, discuss and action to approve the uh contract between Crystal CISD and McNelli for the uh consulting services put on it. >> So this is a continuation of the LSG and so uh Miss we asked Miss Mcanelli to put together a proposal a proposed contract. Uh previously she was working under uh TA's uh umbrella. This is moving forward. uh and so this the the contract would not be so we would have to pay. So what I've asked her to do is to create
053a menu. These are not um it's not at all what we have to do. It's as needed. And so what I asked her to do is just to give us a rate of their her hourly charge and then based on the work the board is doing that you know that month or that week or you know whatever the time frame is then we would call on her services. Uh and so the the uh the contract that you all have is has a very specific limit up to up to 13,000 not to exceed that. I don't think we're going to need that. uh at the last team of eight, she did present to us a a series of next steps that we still have to complete. And so for the purpose of completing that work, uh
054we would like to continue working with her as um as we keep moving the district forward. So the contract is uh you should have a copy of of the contract. it is not to exceed 13,000 uh uh dollars and it's going to be for the fiscal year. So, you know, uh our work is going to be very um strategic. >> So, it's it's uh the cadence of meeting with her will not be as frequent as we have been meeting under uh with her while she was still uh under TA. on this work that she will do with us. Will she still be reporting to TA? >> Yes, we until TA releases >> us. Thank you. >> That $13,000 is for the year fiscal year. >> And you said we might not need everything here or
055>> right. So what I asked her to do is just give me a menu of Okay. So for this service, what would you charge? So that as we do the work then we I will know we need an hour here we need her to be here uh half day in person full day or we can do the work remotely so uh >> but it's only as needed right >> it's as needed is needed to complete that work that we uh approved during the team of eight >> so was TA I mean uh we still have some work to do for them to release us or it was not a year and a half that we had to be >> correct and because we had we had gaps in between the different coaches we still are
056not at 18 months. So the other one would have stayed probably >> if we had continued throughout we would probably be almost close to the end >> but he left about two or three months without she's going to be reporting >> right now she's going to be working uh as a contractor. >> Yeah but reporting to TA uh >> as needed >> finish reporting as needed. what we need to accomplish for them to >> uh release >> to say that we have fulfilled >> the exemplar cohort and we no longer need >> uh oversight. >> How long is that? >> I'm sorry. >> How long is the LSG program? I mean >> we So for us the the uh the order was 18 months but we've had gaps in in between. So it should be
05718 months. >> How many are left? months. >> How many months do we have remaining? >> Oh, we still have about six left. >> And to actually complete the entire LSG program, how long does it take >> for the for the one that we have to complete? 18 months. >> Not not for TEA, but I mean, Miss Mcelli, you know, my understanding of the LSU program, it's a training program. It's guidance program. It's it's not just an oversight by TA, >> but it's, you know, board training. >> For us, it was part of a TA intervention. Yes. But if we would have voluntarily gotten Yes. LSG, you know, they set up a program of trainings and and you know, is that program typically a year, two years, you know, 36 months? I mean, I don't
058know how long the program typically lasts to complete. They gave us 18 months, but we started with a new coach and then uh he was with us for about three months and all of a sudden I think he resigned from Rich and 20. So for about 3 months, I mean we were not doing anything and so uh she was hard to complete whatever. So maybe if he would have stayed we would have been out. No, I understand that. But you say we have six months left requirement by TEA. >> Mhm. >> But to actually finish the LSG program, >> you know, how long do we have left? >> Well, it depends on how long it takes us to fulfill the list of items that she had on her presentation >> and does she have it?
059>> I think that we can because we've done most of the work. The rest is just making sure that we keep up the cadence of meeting and and keeping to the board procedures and making sure that we communicate with the with the with the community, making sure that we have those meetings. Um I think we should be done by the end of this year. We should be done before then >> by the end of the fiscal year or >> the this the scholarly year, the academic year. Yes. >> And again only on the things that that we need. So, like right now we have a November, remember that we had a November presentation to the community, but we have to get her approved if we want to continue working with her as our oversight uh
060or as our what she would become a coach, a a board of trustee coach. Uh we have to get her approved first before we can move on to the next client. So again, this is as needed. you uh I don't foresee that we're going to have uh or that we are going to require significant interventions unless obviously the situation calls for it. Uh but this is her menu and this is what we're proposing to you all in terms of uh contracted services with Miss Mcelli. And I think on the book the booklet uh for Longstar Governor we're almost hitting all of the uh we're almost completing uh >> in terms of the board self assessment. Yes, we're almost meeting >> the recall. Right. >> Correct. >> Okay. Your recommendation? >> My recommendation is that the
061board of trustees approve the contract between Crystal City ISD and Linda Mcelli for uh consulting services. >> Uh got a motion. Motion >> motion by uh Mr. Mata. Do I have a second? >> Second. >> Have a motion, a second. All in favor. Okay. >> Thank you. >> Uh next item. We're going to go into close session. Uh trustes will meet in close session. It's authorized by the Texas code chapter 551 and the open meeting. So at this time the board at the time >> 652