The Minnetonka Public School District board approved the sale of approximately $55,000,000 in 2026A general obligation bonds during its Jan. 6 organizational meeting, a financing step officials said will fund renovations at two middle schools, add science labs and performance/gym space, and support a high‑school security upgrade.

Paul Bourgeois, the district’s executive director of finance and operations, described the sale and the district’s credit standing. ‘‘We are AAA rated,’’ Bourgeois said, noting the rating by Moody’s Investors Service and the district’s history of top‑tier ratings. He told the board the sale used a general obligation capital appreciation bond structure and settled at an effective coupon of 4.69% after the district entered the market the prior afternoon.

District officials said the bonds will primarily fund three categories of projects: work at the two middle schools (including additional science labs and a new gymnasium/performance venue at each), internal facility modifications and a high‑school security system. Bourgeois described the high‑school security upgrade as ‘‘somewhere in the $1.2.1500000.0 range’’ in his presentation; the transcript of the meeting records that phrasing and the district has not provided a clarified, precise figure in the meeting record.

Bourgeois outlined the district’s bond‑rating history and said Moody’s had assigned an AAA rating based on the district’s financial management, community support and enrollment patterns. He said that having the AAA rating reduces borrowing costs and that the district’s approach to sculpting payments and timing other retirements of debt helped the offering land at a lower coupon than initial expectations.

Board members praised staff for the financial work and the community process used to develop bond projects. After Bourgeois’ presentation, a board member moved to approve the sale of the 2026A bonds; following a second, the board approved the sale by voice vote.

The board did not provide a roll‑call tally during the meeting; the chair announced that the motion carried. The district said the funding plan will be reported to the public as bond‑funded projects progress, and staff will provide updates on project timing and cost allocations in future reports.