Meridian's Founder & COO testifies before the State Board of Education

Read the Austin American-Statesman's article HERE.
 
Meridian Founder & COO, Karalei Nunn, recently testified before the State Board of Education requesting expansion of the Permanent School Fund guarantee capacity, thus directing more Texas tax payer dollars into the classroom rather than the pockets of investors.
 
The PSF guarantee allows school districts and charter schools to borrow capital funds at lower interest rates. While the PSF guarantee does not directly fund schools, it allows schools to borrow money with interest based on the highest rating - AAA - rather than the ISD or charter school's financial rating, which is almost always lower.
 
Had this been available to Meridian, the lifetime cost (30 years) of our bonds at 5.5% instead of the PSF guaranteed 4%, $14.5MM could have been saved, thus directing almost $500K annually back into the classroom.
 
The State Board of Education's decision to free up another $500MM to back these bonds is a win for school districts and charter schools statewide. 
 
Read the Austin American-Statesman's article HERE.
 
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