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Board briefed on bond process and roof assessments; coring tests due to produce results
Summary
The board heard an update that the district engaged Stifel for bond marketing and will interview with a rating agency; Martin Roofing has been coring roofs and a meeting is scheduled to review results.
District staff updated the board on bond marketing steps and ongoing roof assessments, saying the district is working with an underwriter and expects a rating-agency interview while roofing coring results are imminent.
The staff member presenting said the board previously approved engaging Stifel to begin credit-rating and bond-marketing work and that the district had a scheduled interview with a rating agency on May 22. "The board approved Stifel to move forward with the process of getting a credit rating and also, marketing of bonds," the staff member said. The presenter — identified in the record as Mrs. Macias — said staff are completing paperwork and will participate in an interview with Standard & Poor's.
On facilities, the presenter said "Martin Roofing has been out in our district the last 2 to 3 weekends coring every roof" and that a meeting to review results was scheduled for the following day. The presenter noted roofing is among the district's largest costs and that the coring results will help define next steps.
Ending: Staff said they will update the board with the roof coring findings after the meeting with the roofing contractor and continue work on bond marketing and rating steps.
