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Wayzata board authorizes process to explore voluntary tender offer for existing bonds
Summary
The Wayzata Public Schools board approved a resolution authorizing staff to pursue a voluntary tender offer/refunding process for callable general obligation bonds (Series 2026A) to seek net savings for taxpayers; the measure authorizes sale parameters but requires sufficient participation and demonstrable savings before a final sale.
The Wayzata Public Schools Board on Monday authorized district staff and its financial advisors to pursue a voluntary tender offer and potential refunding of callable general obligation school building bonds, a step administrators said could lower future debt‑service levies for taxpayers if sufficient bondholder participation is achieved.
Executive Director of Finance and Operations Trevor Peterson and Matthew Hammer of Ehlers told the board the district holds callable maturities with low interest rates and that some…
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