Board authorizes sale of up to $93 million in promissory notes to start referendum work; approves appointments, trips, policies and calendar

The Sheboygan Area School District Board of Education approved a resolution authorizing the sale of not-to-exceed $93,000,000 in general obligation promissory notes to begin funding projects approved in the recent referendum and approved a slate of committee recommendations including travel, appointments and policy actions.

Board action on borrowing: the board voted to authorize district officers (the district president and clerk) to execute the borrowing parameters that will allow the district’s financial advisors to time the market for issuance. The advisors recommended an initial borrowing in early December; staff reported the district planned a structured repayment schedule and an option to refinance if market rates fall. The board carried the motion after a motion and a second; the meeting record shows the voice vote outcome as “aye” and the clerk announced the…