Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Polk schools review $250 million borrowing plan for new Poinciana high school and deferred maintenance
Summary
Financial advisers outlined options to borrow up to $250 million for a new Poinciana-area high school plus $50 million for deferred maintenance, showing multiple debt structures, millage impacts and timing for possible certificates of participation or sales-tax bonds.
Polk County School District officials on June 10 reviewed detailed financing scenarios that would raise roughly $250 million to build a planned Poinciana-area high school and about $50 million for deferred maintenance.
At a work session, financial adviser Laura Howe of PFM described funding sources available to Florida districts and presented multiple borrowing structures — 10-, 15- and 20-year maturities issued as certificates of participation (COPs) or layered onto the district's half-cent sales-tax program. Howe said a 1.5 mills capital-outlay levy exists statewide and that districts commonly use COPs to issue debt without a voter referendum. "This structure was created that has been validated by the Supreme Court," Howe said of COPs.
The presentation showed the district's current debt profile, credit ratings…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
