Financial adviser outlines bond options as district nears payoff of existing debt

Dustin Hayden, a municipal finance professional with Piper Sandler, told the Mission Public Schools Board of Education that the district approaches a window to issue new bonds as existing bonds near payoff and offered a high-level ‘‘plan of finance’’ to show options, timing and tax impacts.

Hayden said the district’s existing bond-interest payment is about $935,000 to $940,000 per year and that the board currently sets a bond mill levy of 6.3 mills. He said the district receives some motor-vehicle revenue for the bond-interest fund but that roughly $900,000 of the annual payment is borne by local property taxpayers. ‘‘One mil in the district generates about $150,000 of revenue,’’ Hayden said.

The presentation’s purpose, Hayden told the board, was not to propose a specific project but to show the financial capacity the district could realize and the mill-levy effects of different issue sizes and terms. Using conservative assumption scenarios, he said…