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Board okays final series of CCS 2022 school bonds; sale planned for July
Summary
The Clarkston board approved a resolution delegating the sale of the remaining series of the 2022 school building and site bond; staff said the planned sale date is July 15 and proceeds will fund junior high construction and related projects.
The Clarkston Community School District Board of Education approved a resolution authorizing the issuance and delegating the sale of the district's remaining 2022 school building and site bond series.
Board members were told the proposed sale date for the series is July 15. District staff and bond advisers described the series as the final portion of the 2022 bond program and said proceeds will be used to finish designs and continue work on the junior high and other projects authorized by the voters. "The sale won't be until July 15. That's the plan right now," a district finance representative said.
Officials described how bonds are sold in series to match spending needs: earlier series fund immediate work while later series are timed to support later phases. RJ from PFM and the bond underwriter had recommended the July sale date, staff said. District staff also noted municipal bond proceeds must be spent within the statutory period set for the issue; board comments referenced a three‑to‑five‑year period for spending proceeds of a series.
Board members asked for post‑sale reporting. One trustee asked for an update closer to the sale with the bond consultant's price projections; staff said the district typically brings full pricing information after the bonds are sold and will return with an informational briefing before final purchase agreements are presented.
The resolution was moved, supported and approved by roll call. The board president announced the motion passed.
