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EIC staff report progress on bond-funded projects and outline bond cash, investments and arbitrage exposure
Summary
Staff updated the board on Quality of Life bond projects (theater, pool, golf-course, A.C. Schreiner House, parks) and provided a financial briefing on bond proceeds, investment earnings and an arbitrage calculation; project timelines, estimated savings and reimbursement timing were discussed.
EIC staff gave the board a consolidated update on Quality of Life bond projects and a finance briefing on bond proceeds, investments and projected cash flows.
Project updates: Staff reported construction timelines and milestones for the Calla (Calla/Playhouse) Theater renovation, the Olympic-style pool, Scour Runner golf-course renovations (greens, tee boxes and bridge work), the A.C. Schreiner House restoration and park play-structure replacements at KSP and Guadalupe Park. The Calla Theater contract was set to start in early March with an estimated completion window by the end of August 2025; staff said the Eddington (sic) Gym and the A.C. Schreiner House renovation work is underway with anticipated practical completion later in…
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