Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Capital Infrastructure topic
No spam. Unsubscribe anytime.
District bond implementation planning advances; board to consider tax levy and issuance resolutions May 27
Summary
Measure M implementation moved into planning and prioritization. Bond program manager briefed the board on sequencing, cost-control strategies and recommended phased issuances; staff said two resolutions will be brought to the May 27 meeting to enable receipt of bond proceeds.
SAN MARINO, Calif. — Measure M implementation moved from planning into near-term execution at the May 13 San Marino Unified School District board meeting as the district’s newly appointed bond program manager reported progress and recommended sequencing and financing steps.
Bond program manager CJ Nolan and staff reviewed the Facilities Master Plan, site visits and a prioritization study session earlier the same day. Nolan recommended focusing early work on design-ready projects, bundling to reduce escalation and limiting interim housing needs to preserve program dollars. He also discussed a phased issuance strategy to align bond proceeds with three-year expenditure rules for bond funds.
Financial advisors from Keygent Financial Advisors and Piper Sandler provided context on current interest rates, the district’s credit profile and potential timing implications. Staff also noted the district has outstanding certificates of participation (COP) that could be paid off using Measure M proceeds.
Director of Facilities said the next board meeting (May 27) will include two required resolutions: the tax levy resolution and an issuance resolution needed for the district to access bond proceeds. The district posted that the board study-session recording will be available on the SMUSD YouTube channel and that a Measure M updates web page will provide regular progress reports.
The board received the update and staff listed next steps toward phased modernizations and contract procurement.
