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Voters approve 4.74-mill bond; Oakwood Schools plans phase 2 construction, targets August bond sale
Summary
Oakwood voters approved a 4.74 mill bond to fund phase 2 of the district's master facility plan. District leaders said design and procurement steps are under way and managers expect major construction to begin in summer 2026; the district is targeting an August bond sale and Moody's rating process.
Oakwood voters approved a 4.74 mill bond last week that the district says will fund phase 2 of its master facility plan, including work at Smith Elementary and Herman Elementary schools.
The bond "will provide crucial funding for phase 2 of the Oakwood's master facility plan," Superintendent Neil Gupta said at the May 12 Oakwood Schools Board of Education meeting. District staff said they have already begun interviews with construction managers at risk, issued a request for qualifications for phase 2 design work, and have internal planning underway.
District officials said the work will continue through the end of the school year, over the summer and into next school year. Finance director Miss Aubert told the board the finance team is targeting an August sale of bonds and has started the paperwork and a Moody's rating process required for a public bond sale.
Officials said they will phase construction to minimize disruption to students and staff. Gupta said some work will be visible to families and some will take place "behind the walls." The board packet for May included an updated five-year forecast that administrators said does not yet incorporate any changes from the pending state budget because no final law is in effect.
Board action at the meeting also moved routine finance items forward: the board approved the May update of the five-year forecast (motion carried; ayes recorded from board members present) and approved a then-and-now payment for contracted services needed before paperwork was complete.
Administrators asked the public to expect additional updates in coming weeks describing how specific projects may affect building operations during summer work and the 2026-27 school year.
Looking ahead, the district said it will complete design procurement, secure a construction manager at risk, obtain a bond rating, and proceed to sell bonds in August if schedules hold. District leaders said the phased approach is intended to reduce disruption during the school year and summer program operations.
