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Fridley board approves bond sale, revised budget and several capital bids
Summary
At its May meeting the Fridley Public School District board awarded a competitive bond sale, adopted a revised budget, approved capital project bids and accepted a $25,000 gift to support senior programming. All motions passed, most by unanimous vote.
The Fridley Public School District Board of Education on May 20 approved a competitive bond sale for phase 1 of the district's capital program, adopted a revised budget for the current fiscal year, and cleared multiple capital purchases and routine business items, the board said during its regular meeting at the Fridley Community Center.
The board voted by roll call to award the bond sale to Hilltop Securities, which submitted the lowest true interest cost, and later approved the district’s revised fiscal-year budget and a set of smaller construction and equipment bids. The board also accepted a $25,000 gift from the Friends of the Fridley Senior Program to fund an additional year for the district’s part-time senior coordinator.
District financial adviser Matt Hammer of Ehlers told the board the sale attracted three bidders and produced a true interest cost of about 4.66…
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