Linn‑Mar approves $10 million bond sale, authorizes up to $31 million in sales‑tax bonds for indoor activity center

The Linn‑Mar Community School District Board of Directors voted unanimously on motions to accept a $10,000,000 sales‑tax revenue bond bid and to approve a resolution authorizing issuance of approximately $31,000,000 in school infrastructure sales, services and use tax revenue bonds to fund expansion, renovation and furnishing of an indoor activity center.

The actions matter because the sales‑tax bonds are the primary funding vehicle the district is using to complete the indoor activity center project now under way, and board members were shown how the new issue fits with the district’s existing sales‑tax debt and its 10‑year facilities planning.

Piper Sandler financial advisor Matt Gillespie reviewed the sale results for the board and described the winning bid, the structure of proceeds and the debt service plan. He noted the winning underwriter was BOK Financial Securities and that the winning bid used bond insurance from Assured Guaranty, which resulted in an insured rating two notches above the district’s standalone rating. “I just wanna congratulate the district on this facility,” Gillespie said, calling the…