The Silver Consolidated Board of Education on Dec. 15 authorized the issuance and sale of up to $6.5 million in general obligation school building bonds (series 2026) to fund building projects, technology and related capital needs.

Bruce Cross, the district’s bond counsel, walked the board through a delegating resolution that sets the parameters for the bond sale: a maximum par amount of $6,500,000, maturities no later than Aug. 1, 2045, and a statutory maximum true interest cost tolerance of 10 percent used as a parameters cap. Cross said the district expects to use a private negotiated sale and directed the board to review the preliminary official statement before the bonds are marketed. "As you've heard, we're only going to be issuing 6.5 in 2026, so we should be well within that limit," he said.

Financial adviser Mark Valenzuela and counsel also described the disclosure and tax rules that accompany tax‑exempt bond proceeds and urged board members to flag anything market‑relevant that should be included in the preliminary offering statement. Valenzuela noted rating‑agency calls were scheduled and that a draft preliminary offering statement would be circulated to the board in the coming days for review.

During Q&A, counsel emphasized that the 10 percent parameter is statutory language and not an expected market rate; advisers said they anticipate market rates substantially lower ("in the 4 to 4 and a half percent range," the adviser said).

Board action: a motion to adopt the authorizing and delegating resolution was made, seconded and approved by voice vote. The meeting record does not record a roll‑call vote tally in the transcript excerpt.

Next steps: district bond advisors will circulate the preliminary official statement for board review and proceed with rating‑agency calls and pricing within the timelines required under the supplemental public securities procedures. Counsel reminded members that issuance will require adherence to IRS rules for tax‑exempt proceeds and SEC disclosure expectations.