Piper Sandler outlines bond picture as Bolivar R‑I board adopts amended budget and 2025‑26 calendar

Piper Sandler representatives gave the Bolivar R‑I board an update on the district's debt and long‑range financing options, and the board approved an amended fiscal year 2024‑25 budget and the district's proposed 2025‑26 calendar.

Brent Blevins of Piper Sandler told trustees the district "has done a lot of good work over the last several years" on facilities and financing, and reviewed recent bond and lease purchase transactions, callable dates and refunding thresholds.

What Piper Sandler reported: Blevins said the district's April 2024 general obligation bond sale produced a lower interest rate than typical lease purchases because GO bonds are secured by an ad valorem debt service levy paid into the debt service (fund 3). By contrast, certificates of participation (COPs) or lease purchases are financed from the capital projects (fund 4) and the market prices them differently, producing higher yields for the district on lease purchases. Piper Sandler showed the district had roughly $28.47 million outstanding in combined general obligation…