Oak Grove R‑VI board approves parameters for Series 2025 general‑obligation bond sale; project bids to follow

Oak Grove R‑VI trustees voted to approve a parameters resolution authorizing the sale of Series 2025 general‑obligation bonds that will issue the remaining portion of the district’s 2020 bond authorization and pursue a partial refunding for interest savings.

The board heard a presentation from Megan Lai of Gilmore & Bell, bond counsel, who explained that the district plans to issue the remaining $10,000,000 of the 2020 authorization and refinance callable 2020 bonds. Lai said the refunding is estimated to deliver about $869,000 in interest savings on the outstanding portion; together with a prior prepayment the district has realized roughly $2.6 million in combined savings on the 2020 issuance so far. Pricing was scheduled for Tuesday, March 5, with closing targeted for March 18, subject to final results falling within the approved…