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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 increase for homeowners, because the new referendum and existing debt retirement would offset each other. Using a $400,000 home for example calculations, staff presented estimated homeowner impacts of approximately $30–$36 per month depending on scenario.
The board also discussed adding a community food shelf and associated community space as part of the bond-funded construction. Board staff reported they had consulted the district’s bond attorney, Andrea Headke, who advised the district that federal tax rules should allow tax-exempt bonds provided the food shelf occupies less than 5% of total square footage and private use stays below 5%; the attorney also reported no state-law barriers were identified. The attorney’s guidance was provided to the board to explain that a food shelf addition should not force the district to issue taxable bonds, which carry higher interest rates.
Board members directed staff and the district’s analyst, Robert, to prepare a draft 'review and comment' document; staff reported a submission deadline for review and comment materials of June 17. The board scheduled a site tour and a focused discussion for the next work session (May 14) to narrow project priorities — multipurpose space, CTE enhancements, special education space upgrades and the food shelf were highlighted for consideration. Staff said consultant Robert would prepare a draft for presentation at the May 28 meeting and that, if needed, the board could call a special meeting on June 11 to meet the June 17 deadline.
No final vote on a bond or referendum was taken at the meeting; the item remained a planning discussion with specific next steps assigned to staff and consultants.
