Marble Falls Independent School District Board of Trustees

From staff reports

The Marble Falls ISD Board of Trustees accepted President Rick Edwards’ resignation Tuesday night at their regular meeting and reorganized the board’s slate of officers.

Trustees also agreed to accept nominations for Edwards’ open position and to appoint his replacement at the next board meeting.

The person appointed would then serve out the remainder of Edwards’ term until May 2018.

Marble Falls Independent School District (MFISD) will be generating approximately $7.4 million in savings in bond interest during the next 20 years by refinancing the district's 2008 and 2009A bonds with new bonds issued next year.

Trustees approved issuing the new bonds during their regular board meeting Monday, Dec. 12. This will be the fourth phase of a district refunding program initated with a bond sale approved by the board at their July 21, 2014, meeting, Marble Falls ISD Superintendent Dr. Chris Allen said.

The first phase of refunding refinanced a portion of 2007A bonds, which generated $376,267 in interest cost savings to Marble Falls taxpayers. A second phase initiated in February 2015 refinanced another portion of 2007A bonds and generated another $1,808,334 in cost savings.