Board approves bond refunding preliminary statement, booster club authorization and several contracts
Summary
The board approved a preliminary official statement for a Series B general obligation refunding (projected savings over 14 years, part of broader $2 million taxpayer savings this year), authorized a parent booster club, and approved several contracts after separate votes and discussion about fiscal-year alignment.
During its Nov. 14 meeting the Moreno Valley Unified School District Board of Education approved several finance and consent items, including a preliminary official statement for a general obligation refunding bond and authorizations for booster organizations and contracts.
Chief Business Official Susanna Lopez presented Resolution 2025-26-40 to approve the form of a preliminary official statement in connection with a 2025 general obligation refunding bond (Series B). Lopez said the refinancing would generate projected savings of up to $1,000,000 over a 14-year period; combined with an earlier refinancing the district estimated roughly $2,000,000 in taxpayer savings from refinancing activity this year. The board voted to approve moving forward and scheduled pre-pricing in December.
The board also authorized the Mustang Kappa Booster Club for Moreno Elementary after staff confirmed the group met operational and compliance requirements. On the consent agenda trustees approved the overall consent package after Trustee Clark requested separate votes on three contract items (25260285, 25260290 and 25260296). Contracts 0290 and 0296 were approved after staff explained services were provided spanning fiscal years and that payments had been withheld pending approval; contract 0285 passed with one abstention from Trustee Clark.
No new district funds were appropriated for the refunding itself; Lopez said the refunding returns savings to taxpayers and does not create new district revenue. The board accepted the informational and action items and moved on to policy and governance matters.
