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Board authorizes Measure H bond sale, approves construction and tech contracts and accepts budget update
Summary
Southern Kern Unified trustees voted unanimously to authorize the first series sale under Measure H, approved several construction and technology contracts including a $1.12 million landscaping and drainage contract for Tropical Middle School, and accepted the district's second interim budget report.
The Southern Kern Unified School District Board of Trustees on March 18 authorized the sale of the first series of general obligation bonds approved under Measure H and approved multiple contracts and the district's second interim budget update.
The board voted to approve a resolution authorizing the sale of the bonded indebtedness in an aggregate principal amount not to exceed $28,000,000. Graham Back, bond counsel with Nixon Peabody, summarized the action as approving the form of the disclosure document and the bond purchase contract that will allow the district to go to market and work with a municipal underwriter and rating agencies. "The resolution itself is, what we've said, will approve the first series of bonds under the new Measure H," Back said.
The board also accepted the district's second interim financial report, which showed revised revenue of approximately $70.9 million and identified enrollment volatility and a rising share of students with disabilities as risks the district will monitor. Robert (title not specified in transcript) walked…
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