The Unified School District No. 261 Board of Education voted unanimously to approve a resolution authorizing the offering for sale of general obligation refunding bond Series 2026-A, the board president announced during the Dec. meeting.

District finance staff and outside advisors told the board that changes in market interest rates improved the projected savings from the refunding. A memo from Stifel showed updated year-over-year and tail-end scenarios; staff said the district previously estimated $1,092,000 in savings and now estimates approximately $1,151,000 in savings under the current approach, with a larger ‘‘tail end’’ scenario estimated at roughly $1,300,000 in total savings.

"We are saving a little bit more, and I do believe in my recommendation I would say that we do the refunding of those bonds because it is saving taxpayer dollars," a district presenter said, recommending the tail-end savings option to shorten the district's payment period while increasing overall savings.

President Jennifer Behn made the motion to approve the resolution, which Jeremy seconded. The board voted 5–0 to approve the offering for sale.

Board members thanked staff for pursuing the refinancing opportunity, which the district framed as a way to reduce future interest costs and shorten debt-service timeframes. The resolution authorizes staff to proceed with offering the refunding bonds; details about timing, underwriter selection, or final terms will be determined through the sale process and related memos distributed to the board.

The board did not vote on specific underwriter awards or final sale terms at the meeting; staff said memos with up-to-date details were provided to members and would guide next steps.

What's next: the district will complete the offering and finalize terms according to the market and advisor recommendations; the board will receive further documentation as the sale and closing progress.