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Broward School Board Leasing Corp. adopts resolution authorizing up to $225 million in certificates of participation
Summary
The board of directors of the Broward School Board Leasing Corp. voted to adopt Resolution 25-01, authorizing amended lease schedules and the negotiated sale of Series 2025A certificates of participation in an aggregate principal amount not to exceed $225,000,000; the vote was recorded as unanimous in the transcript.
The board of directors of the Broward School Board Leasing Corp. adopted Resolution 25-01 at its meeting, authorizing execution of amended and restated schedules to a master lease-purchase agreement and approving the negotiated sale of Certificates of Participation, Series 2025A, in an aggregate principal amount not to exceed $225,000,000.
The resolution authorizes execution of amended and restated Schedule 2005A-1, Schedule 2006-1 and Schedule 2007A-1 to the master lease-purchase agreement; approves the form of a Series 2025A supplemental trust agreement; authorizes use and distribution of a preliminary offering statement and execution of a final offering statement; and permits the execution of other agreements and amendments necessary to carry out the resolution's purposes, all as described in the meeting record.
Board member Ms. Pham asked whether the leasing corporation meeting was underway and said, "I'll be a no right off the bat. Thank you." The motion to adopt Resolution 25-01 was moved by Ms. Thompson and seconded by Dr. Zeman. The meeting record shows a voice vote and the chair called for ayes; one participant is recorded saying, "Aye," and the chair announced the motion carried unanimously.
Earlier in the meeting the board also moved to approve minutes of the previous meeting held 11/19/2024; that motion was moved by Ms. Thompson and seconded by Dr. Zeman and was recorded as carrying unanimously.
The transcript shows some procedural confusion about adjournment and reconvening between the leasing corporation meeting and the regular school board meeting before the leasing corporation meeting was formally adjourned. The chair then closed the leasing corporation meeting following the adopted motions.
No use of proceeds, project details, financing terms beyond the maximum aggregate principal amount, nor a final sale price or purchaser names are specified in the transcript.
