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Racine Unified board approves up to $57.61 million in note anticipation notes to fund capital projects
Summary
The Racine Unified School District board voted unanimously to authorize the issuance of note anticipation notes not to exceed $57,610,000 to finance five ongoing district projects, after staff presented the financing request and the board approved the resolution.
The Racine Unified School District board on Monday approved a resolution authorizing the issuance of note anticipation notes not to exceed $57,610,000 to fund five ongoing district projects.
Board member discussion followed a staff presentation on the proposed borrowing. A staff member summarized the request as "seeking approval for the resolution authorizing the issuance and establishing a parameter resolution for sale of not to exceed $57,600,000 of note anticipation notes," and said the district planned to sell the notes in the next few weeks to fund five projects.
The board moved and voted on the resolution during the meeting. The motion to approve the resolution was introduced on the floor, seconded, and carried with eight yes votes and no recorded no votes or abstentions. The agenda item was identified as the district's next step in short-term financing for ongoing capital work; the staff presentation noted this issuance would be executed under a parameters resolution and sold in the coming weeks.
No amendments or conditions to the resolution were recorded in the meeting transcript, and board members did not ask for further substantive changes to the borrowing terms during the public meeting. The board moved on to consent items after concluding the vote.
