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Municipal advisor outlines bond, refinancing and life‑safety options for District 65 capital needs
Summary
The district's municipal advisor recommended combining a refunding to capture estimated interest savings, issuing bonds to cover an upcoming lease‑certificate payment and exploring life‑safety bonds and referendum/limiting‑rate strategies for larger capital needs; staff will prepare a parameters resolution for the board.
District municipal advisor Mr. Lewis (Lewis) presented a review of capital‑finance tools to the Finance Committee on June 2, laying out short‑term refinancing options and longer‑term paths for funding building projects, including life‑safety bonds, referendum building bonds and limiting‑rate (operating levy) increases.
Lewis said three near‑term decisions are available: (1) complete a public bond sale in late summer to refinance callable 2014 and 2015 capital‑appreciation (CAB) bonds at lower interest rates; (2) use part of the available non‑referendum debt authority to issue bonds to make a December 1, 2025 lease‑certificate payment that otherwise would be due from operating funds; and (3) monitor market conditions and structure a…
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