Board votes to authorize intent to issue up to $30.745 million in facilities bonds

The Roseville Area School Board voted Sept. 9 to adopt a resolution stating its intent to issue general obligation long-term facilities maintenance bonds, series 2026A, in a maximum aggregate principal amount of $30,745,000.

Director Sherry Thompson told the board the action follows its earlier biennial approval of long-term facilities maintenance projects and is intended to provide flexibility for issuing bonds next spring. Thompson said the maximum is set so the district can work with the Minnesota Department of Education and Ramsey County to finalize levy and project details; the actual borrowing amount may be lower.

Clerk Xu moved the resolution, reading the motion: "I move for the resolution stating the intention of the school board to issue general obligation facilities maintenance bonds series 2026A in the maximum aggregate principal amount of $30,745,000." A second was offered and the board conducted a roll-call vote. The transcript records unanimous support; directors signaled aye and the chair said the motion carried.

Board discussion included questions about timing and market conditions; staff and board members said the district traditionally issues these bonds in the spring and that financial advisors (Ehlers) monitor market conditions starting in December to advise on timing. Board members noted a preliminary levy figure must be submitted by Sept. 30.

The resolution is an authorization of intent; the board did not adopt bond documents at the meeting. Staff said next steps include continued work with the Department of Education and Ramsey County to finalize levy data and project lists prior to issuance.