ITEM NUMBER: 6.D.
School Board Regular Meeting
- Meeting Date:
- 09/21/2020
- Prepared By:
- Tom Sager
Item Type:
Action
Subject:
Resolution Relating to $23,500,000 General Obligation Facilities Maintenance Bonds
Background:
At the August 10, 2020 School Board meeting, the School Board received information pertaining to two types of upcoming bond sales. The first type was to create the resources for additional Long Term Facility Maintenance needs identified during the district’s facility planning process. The second type of bond sale involved the refinancing of a portion of existing debt, and in this process, created substantial savings on property taxes for local property owners. At the August 10 meeting, the School Board approved a resolution that authorized the Superintendent/Director of Business Services and a Board Officer to execute a Bond Purchase Agreement for the stated purposes. The sale of these bonds commenced on Thursday, September 17 and met all the parameters approved by the School Board to complete this sale.
Recommended Action:
The administration recommends that the School Board approve the attached resolution relating to $23,500,000 General Obligation facilities maintenance bonds, ratifying the award of sale.