Stillwater Board approves bond sale, accepts treasurer's report and clears consent agenda

The Stillwater Public Schools Board of Education voted to approve the sale of Combined Purpose General Obligation Bond Series 2025A, accepted the district treasurer's monthly report and approved routine business items in a single consent vote.

Board members voted unanimously to authorize marketing of the 2025A bond series and to accept the treasurer’s March report. The board also approved the consent agenda items 4a through 4t by a single roll call vote and adopted a first-reading action on policy DMB-R4 (professional development certification reimbursement) to enable payment under the clarified language.

Why it matters: The bond sale and the improved revenue picture affect the district’s near-term capital work and cash flow. The treasurer reported an unexpected apportionment check that will add to ad valorem revenue, improving the general fund balance trajectory the board has prioritized.

Key actions and next steps - Bond sale authorized for marketing: The board approved a resolution to put the Combined Purpose General Obligation Bond Series 2025A on the market. The issuance amount discussed for this series is $15,750,000. The board was told the bonds would be sold on May 13 and, if awarded, would be dated June 1 for closing and proceeds to be received in June. - Treasurer’s report accepted: The treasurer reported an increase in ad valorem receipts and said an apportionment check received after the March report will show approximately $1.6 million more in ad valorem revenue than the auditor’s estimate of needs. The board accepted the report by vote. - Consent agenda passed: Items 4a–4t were approved by a single board vote after a motion and second; roll call showed all members voting yes. - Policy update (DMB-R4): The board approved action on policy DMB-R4 in its first reading so the district may pay certificated staff covered by the reimbursement language. The board discussed the timing and the need to avoid delaying payments to staff whose reimbursement is provided for under the policy language presented to the board.

Votes at a glance - Consent agenda (items 4a–4t): Moved by Marshall Baker; second by Tim (last name recorded elsewhere in the transcript). Vote: unanimous — approved. - Treasurer’s report (accept): Motion made; seconded. Vote: unanimous — accepted. - Resolution authorizing sale of Combined Purpose General Obligation Bond Series 2025A: Motion made and seconded. Vote: unanimous — approved. Bond sale scheduled for May 13; proceeds dated June 1 if awarded. - Policy DMB-R4 (professional development certification reimbursement program): Motion to approve in the first reading was moved and seconded; vote: unanimous — approved as presented in the first-reading action. - Adjournment: Motion and second; vote unanimous.

Meeting context: Board members discussed budget and staffing history earlier in the meeting and praised administration for actions that moved the district out of a potential shortfall. Board members noted the district’s long-range planning work and the ongoing capital program; the bond sale is part of the 2023 voter authorization the board is executing in phases.

Ending: The board closed the meeting after taking the actions above and signaled that bids for the bond sale will be returned to the board on May 13 for award and final approval.