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Superintendent updates board on referendum approval and plan for certificates of participation financing
Summary
Superintendent Hyde said the county commission approved placing a referendum on next November's ballot to bolster salaries and district competitiveness; staff and financial advisers briefed the board on using certificates of participation (COPs) to fund a portion of capital projects and outlined repayment options (1.5 mill local capital tax, impact fees, sales tax) and an illustrative issuance timeline in January–February.
Superintendent Hyde told the board on Nov. 18 that the Polk County Board of County Commissioners approved placing a referendum on the ballot for next November. Hyde framed the referendum as a response to low per‑pupil state funding and to help the district remain competitive for staff recruitment and retention.
Following that update, finance staff and outside advisors provided a primer on certificates of participation (COPs) and an illustrative plan for a 2026 debt issuance to finance a subset of capital projects. Heather Jenkins and disclosure counsel George Smith explained that COPs are…
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