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Board discusses bond scenarios, operating levy and adding a community food shelf to bond projects
Summary
Board members heard staff and advisors on bond scenarios (roughly $30M–$36.3M), an operating-referendum option that would raise $2.15M annually with neutral net tax impact, and a proposal to include a food shelf/community space in a bond. Bond counsel said tax‑exempt bonds likely remain allowable because private use would be under 5%.
Board members spent the largest portion of the meeting discussing possible bond referendum questions, an accompanying operating referendum and a proposal to include a community food shelf in a bond-funded project.
District staff said Ehlers (financial advisor) had produced two primary bond scenarios: a $30,000,000 bond and a $36,300,000 bond (the 36.3 figure reflects issuance costs to provide $36,000,000 for construction). Under one scenario staff described, the district could raise the operating referendum to $2,150,000 per year while showing no net tax…
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