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Board discusses seeking up to $37M in debt certificates, $55M bond plan to follow; tax impact estimates presented
Summary
Superintendent and financial advisers discussed a two-step financing plan: short-term general obligation debt certificates of up to $37 million to bridge early project costs and a later working-cash/bond issuance up to $55 million; no bond resolution was voted on at the meeting.
Superintendent Andrew Johnson and staff reviewed a proposed two-step financing approach for district capital projects at the April board meeting: first, seek general-obligation debt certificates not to exceed $37 million as a short-term bridge; second, pursue working-cash bonds (board discussed up to $55 million) at a later date if the board elects to proceed.
Johnson said the debt certificates would position the district to begin early…
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