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Board authorizes up to $1.5 million in promissory notes to fund FY26 movable equipment
Summary
The Mid State Technical College District Board approved a resolution authorizing issuance of not-to-exceed $1.5 million general obligation promissory notes, series 2026A, to support FY26 capital movable equipment; sale parameters were set and R.W. Baird will report sale results in January.
The Mid State Technical College District Board on Dec. 15 approved a resolution authorizing the issuance of not-to-exceed $1,500,000 in general obligation promissory notes, series 2026A, to finance movable equipment for FY26.
Board members were told Bayard and Quarles & Brady will provide legal services and R.W. Baird will handle the sale. The board also approved a companion resolution establishing parameters for the sale so the notes may be sold on a date other than the Jan. 19, 2026 board meeting (that date falls on a federal holiday). R.W. Baird is scheduled to present actual sale results at the board’s January meeting.
The resolutions were introduced as routine financing steps to fund capital equipment needs and were approved by roll call vote. No dissenting votes were recorded during the roll call.
The board packet included the legal resolution text and financing parameters; staff noted this will be the second and final general obligation promissory note issuance for the fiscal year.
