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Board approves $15 million financing package for Buckeye Elementary expansion after extended debate
Summary
After hours of discussion about site constraints, costs and studies, the Riverside Board of Education approved a resolution authorizing up to $15 million in lease-purchase financing (Certificates of Participation and TANS) to complete work at Buckeye Elementary and related renovations. The vote was 4–1; one amendment to cap new classrooms at eight failed.
The Riverside Board of Education on the night of the meeting voted to authorize up to $15,000,000 in installment-payment/lease‑purchase financing to support construction and renovations at Buckeye Elementary and related capital work.
The financing resolution—described in the meeting materials as a mix of Certificates of Participation (COPS) and tax anticipation notes (TANs)—was introduced for placement on the agenda and debated at length by trustees, staff and the district’s construction representatives. An amendment proposed to limit the project to “8 additional classrooms” was offered during debate but did not pass; the final resolution to increase available financing to $15 million carried on a roll call vote, 4–1.
Why it mattered: district staff and the treasurer said the extra borrowing would allow the district to consider a fuller renovation of Buckeye—potentially adding classrooms, improving mechanical systems and performing interior renovations—without delaying initial mobilization of the…
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