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Board holds first reading of Resolution 903 authorizing sale and refunding of bonds up to $75 million
Summary
Resolution 903 was presented in first reading; it would authorize the sale of bonds not to exceed $75 million, refund 2015 bonds up to $58.35 million, and delegate sale authority to district leadership if adopted.
The Northshore School District board held a first reading of Resolution 903, which would authorize the sale of bonds not to exceed $75,000,000, authorize refunding of 2015 bonds not to exceed $58,350,000, and delegate authority to district leadership to approve the sale within established parameters.
Superintendent Michael Tully introduced the resolution and noted it aligns with the earlier resolution 840 and a special election approved by voters in February 2022. Board members discussed anticipated taxpayer savings from the refunding and acknowledged prior study-session conversation earlier in the evening.
Resolution 903 was presented for first reading only; no formal vote was taken. The administration characterized the action as part of the district's financing plan and indicated further action will follow as required.
