The Clayton School District board reviewed draft ballot language for a potential bond election and considered how to structure borrowing so the district can fund priority facility projects without raising the debt-service rate. John Bridal, the district's chief financial officer, said the district is working with bond counsel Gilmore & Bell and financial adviser Piper Sandler to shape a proposal that would preserve borrowing capacity for future phases.

Bridal told the board the planning-level approach now being discussed would group the high school CTE addition, Glenridge Elementary improvements and Gayfield stadium work into a Phase 1 package that BSI estimates between $105 million and $130 million. He said the district modeled a roughly $135 million short-term capacity but proposed phasing borrowing (for example, $45 million per year over three years) so future capacity is preserved as existing debt expires in 2029.

"We've built a model for determining our ability to borrow," Bridal said, noting the plan assumes conservative assessed-valuation growth and includes contingency and owner's contingency factors. He said the proposal is being structured to align with the board's stated goal of no tax-rate increase and that senior-tax-freeze participants would not see higher taxes if the bond passes.

Board members discussed keeping ballot language broad enough to meet county word limits and legal requirements while ensuring the public understands what projects would be funded. Legal counsel Eric Creech of Gilmore & Bell and district communications staff said outreach materials will provide the project specifics the ballot language omits.

No vote on a bond resolution occurred at the meeting; board members said they will finalize language and vote on a resolution in January ahead of certification deadlines.