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Board weighs two borrowing paths for K–8 project; timeline set for bond resolution
Summary
PFM presented two financing scenarios for the district’s planned $120 million in projects: a front-loaded option that lowers lifetime cost but raises near-term debt-service to about $8.69M, and a level-payment option with a softer near-term impact but higher long-term cost. Staff briefed the board on reserves, tax-millage implications and a Feb. 19 debt-resolution timetable.
Representatives from PFM, the district’s financial-advisory firm, presented financing options for the district’s multi-step capital plan. Zach Willard, managing director, told the committee the plan supports roughly $120 million in projects, noting the district already issued a first $15 million tranche last summer and expects two roughly $45 million borrowings (spring and next year) with a final cleanup issue in 2028.
Willard framed two core scenarios. Scenario 1 front-loads principal repayments to reduce total interest over 30 years but creates a near-term debt-service peak around…
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