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Janesville district details plan for two bond issuances, cites federal rules on tax-exempt investments
Summary
District staff and bond counsel described a plan to issue two general obligation borrowings tied to the November 2024 facilities referendum, explained federal restrictions on investing unspent bond proceeds and said the board will vote on a parameters resolution next week.
The Janesville School District outlined plans to issue two general obligation borrowings tied to the facilities referendum approved by voters in November 2024 and explained federal rules that limit how the district can invest any unspent proceeds.
The details were presented to the Finance, Buildings & Grounds Committee on Feb. 18 by Dan McCray and Tom Griggs, the district—s bond counsel. McCray said the board is expected to consider a parameters resolution next week that will give administration discretion over timing and price when the district sells the two bond issues.
"The board will be taking action next week on a parameters resolution," Dan McCray said, describing the resolution as…
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