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Bettendorf board approves resolution to pursue $42 million in school infrastructure bonds
Summary
The Bettendorf Community School District board voted unanimously to approve a resolution initiating a process to issue approximately $42,000,000 in school infrastructure sales, services and use tax revenue bonds; a 14-day waiting period will follow before formal issuance steps begin.
The Bettendorf Community School District board voted unanimously Tuesday to approve a resolution supporting the proposed issuance of approximately $42,000,000 in school infrastructure sales, services and use tax revenue bonds.
The vote followed a public hearing on the proposed bonds that opened at the start of the board meeting. The resolution passed by roll call with the motion recorded as carried 7-0.
Under the timeline discussed at the meeting, the district will observe a 14-day waiting period after passage of the resolution before the board proceeds with the formal issuance steps. District staff said the next agenda item that will “kick start the actual issuance” is scheduled after that waiting period.
Board members did not amend the amount during the meeting. No specific projects tied to the bond proceeds were detailed in the discussion beyond references to school infrastructure; the public hearing and resolution were presented as required steps in the bonding process.
The board opened the hearing at the meeting start and closed it later in the agenda before taking action to approve the resolution. The district’s action authorizes staff to move forward with the administrative steps needed to issue bonds; bond sale details and final project allocations will come later in the process.
Votes at a glance: the resolution to pursue issuance of roughly $42,000,000 in school infrastructure sales, services and use tax revenue bonds — motion carried 7-0.
Looking ahead, the district will return to the board after the 14-day waiting period to begin the formal issuance process and provide further details about sale timing and project allocations.
