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Board reviews $80M bond authorization and hears warnings about arbitrage liability
Summary
Administrators introduced a resolution authorizing up to $80 million in general-obligation bonds as the first tranche of a referendum; financial advisor Jake Glover and counsel explained an accrued arbitrage liability tied to prior bonds and discussed timing, reimbursement language and construction-management procurement.
District staff and outside advisors presented the financing plan that would put the first tranche of referendum debt on a March sale calendar. Heather Tucker and bond counsel outlined an initial $80 million authorization intended to fund a subset of projects (new Dutch Fork Elementary, wings at Chapin and Lake Murray Elementary, and program moves into the Richland Education Center). The administration said it…
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