Ratification of the Sale of Series 2024A General Obligation Bonds

At the December 5, 2023 School Board meeting, the School Board received information pertaining to an upcoming bond sale.  At the December 5 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 Wednesday, January 17, 2024, and met all the parameters approved by the School Board to complete this sale.

The School Building Bonds will be used to finance the acquisition and betterment of school sites and facilities including, but not limited to, safety and security improvements districtwide, improvements to support early childhood learning, a swimming pool addition in the west attendance area, and improvements to Mankato West High School.

The administration recommends that the School Board approve the attached resolution relating to $105,000,000 General Obligation School Building Bonds Series 2024A, ratifying the award of sale.