J O Combs board hears financial analysis on possible capital bond, three-size scenarios presented

Board President Ray and district leaders presented an initial financial briefing on a possible capital bond election, and Mike LaValle of Stifel walked the governing board through assessed-value trends, bonding capacity and three sizing scenarios the district could present to voters.

LaValle said the district's assessed valuation has grown substantially in recent years and that growth drives how much the district can borrow. Using conservative assumptions, Stifel modeled three sale programs — $40 million, $60 million and $80 million — each sold in multiple series over several years. LaValle showed the projected incremental tax impact attributable to new bonds (expressed per $100,000 of taxable value): roughly $0.42 for a $40 million program, $0.56 for $60 million and $0.69 for $80 million, and translated those to annual costs (about $42, $56 and $69 per $100,000 tax value, respectively).