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Board authorizes bond issuance plan, approves competitive sale process for district bonds
Summary
Trustees adopted Resolution 24‑21 authorizing the issuance and sale of up to $30 million in district bonds by competitive sale. Municipal adviser explained the competitive-sale approach to maximize market pricing.
The Buena Park School District Board adopted Resolution 24‑21 on March 10 authorizing the issuance and public sale of up to $30,000,000 in district bonds and approving related disclosure documents, an official statement and notice of sale.
Jason Chung, serving as the district’s municipal adviser, explained that in Orange County it is customary to use a competitive sale rather than a negotiated sale for municipal bonds; he said competitive sale opens the offering to a broad investor universe and generally produces more competitive pricing on the sale date. Trustees asked procedural questions and then voted to approve the resolution; the motion passed on a roll‑call vote of 5–0.
The board’s action authorizes staff to proceed with required disclosure documents and the public-notice process. District staff said the bond issuance timeline will be coordinated with other scheduled financing steps and that the amount authorized in the resolution is a not‑to‑exceed figure to enable an upcoming sale.
