ITEM NUMBER: 7.D.
School Board Regular Meeting
- Meeting Date:
- 02/22/2022
- Prepared By:
- Tom Sager
Item Type:
Subject:
Updated Approval of Parameters Resolution for Bond Purchase Agreement for MRCI Purchase and Renovation
Background:
At the January 3, 2022 school board meeting, the board approved the parameters set in the attached resolution for the bond sale, and authorized the Superintendent/Director of Business Services to execute a Bond Purchase Agreement for the stated purposes. This is the first part of a two part process, with the second part of the process occurring at a future school board meeting when the board will ratify the resolution for the award of the sale. The purpose of this update is to extend the resolution beyond the current February 28, 2022 expiration date, in the event the property closing and bond sale does not occur before that time.
Recommended Action:
The administration recommends that the School Board approve the attached resolution authorizing the Superintendent/Director of Business Services to execute a Bond Purchase Agreement for the purchase and renovation of the MRCI property. This resolution extends the bond sale authority through April 30, 2022.