Bristol Township SD board approves Act 1 index and moves forward on $22.5 million bond plan for Armstrong renovation
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Summary
The school board approved an Act 1 real‑estate tax index resolution (max 4.6%) and authorized bond parameters for up to $22.5 million to begin planning capital work at Armstrong School; the bond parameters vote passed 8–1 amid questions about committee briefings and documentation.
The Bristol Township School District Board of Directors voted to adopt two budgetary steps that clear the way for a possible capital renovation of Armstrong School.
At the November meeting, the board approved an Act 1 index resolution setting a maximum real‑estate tax increase of 4.6% for the 2026–27 budget year, a procedural step that President Morgan emphasized "we are not raising taxes tonight." The Act 1 motion passed on a roll call 8–1, with Missus Eakin Cheble voting no.
The board then approved bond parameters authorizing the issuance of general obligation bonds, series of 2026, with a maximum principal amount not to exceed $22,500,000 to fund capital improvements and pay issuance costs. Finance and facilities staff described the Armstrong project as time‑sensitive, citing failing HVAC and electrical infrastructure that has required staff to manually start backup systems and led to large classroom temperature swings. A Stifel Nicolaus representative explained the proposed structure, saying the initial years of debt service are designed to be relatively modest compared with the project’s overall cost.
Board members pressed for more committee briefings and documentation. One director asked that bid details and supporting materials be provided more transparently to members who do not attend committee meetings. Finance staff responded that the finance committee had reviewed the proposal and that supporting materials were publicly available via the committee process.
The bond‑parameters resolution carried on roll call 8–1. After that vote the board accepted the bond purchase proposal presented by Stifel Nicolaus & Company Incorporated for the series, a separate unanimous vote.
The board and administration said no construction will begin before further documentation and final approvals in January; the bond authorization and purchase acceptance start a procedural timeline to allow design, underwriting and scheduling to move forward to meet a summer construction window.
Next steps include completion of underwriting documentation, public disclosures and a final vote or administrative action when the district brings firm terms back to the board.