Topeka Public Schools Unified School District 501 Board of Education Meeting Agenda 2026-05-21
Board Finalizes Interest Rate Conversion on 2020B Bonds
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Description
The Board approved Resolution 26-011 to implement the pre-arranged conversion of its 2020B bonds held by Capital One Public Funding LLC from a 3.59% taxable rate to a 2.72% tax-exempt rate on August 1, 2026. The change secures more than $20 million in savings and shortens the bond term to 2039.
Contract Details
Vendor
CAPITAL ONE PUBLIC FUNDING LLC
Agency
Topeka Public Schools Unified School District 501, KS
Contract Type
FINANCIAL_SERVICES
Document Date
May 21, 2026
Contract Term
Bond term through 2039
Renewal Date
2039-08-01
Renewal Info
Interest rate conversion was predetermined when the 2020B refunding bonds were issued in 2020; repayment schedule remains through 2039 with the lower tax-exempt rate effective August 1, 2026.
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Topeka Public Schools Unified School District 501 Board of Education Meeting Agenda 2026-05-21
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