Board approves COP/site-lease with Bank of Colorado to fund Pioneer safe entry, courts and playgrounds

The board approved a resolution to enter a certificate-of-participation/site-lease agreement with the Bank of Colorado to secure borrowing for district capital projects.

Speaker 11 presented the financing plan and said the COP would use Pioneer as collateral to borrow up to $2,500,000 with the district currently planning for roughly $2,200,000. "It's a resolution from the Bank of Colorado that allows us to borrow up to $2,500,000. We're looking at 2,200,000.0," Speaker 11 said. The superintendent/administrator described planned projects that include safe-entry improvements at the Pioneer building (including secure entry, classroom upgrades and bulletproof glass), resurfacing or work on basketball courts at the high school, and new playgrounds.

Speaker 11 moved to approve the resolution and Speaker 3 seconded. The clerk called the roll and recorded affirmative votes. Recorded roll-call lines in the transcript show Christie Chisholm, Nancy Hopper, Amy Jess, John Coney and Whitney Smith voting in favor (recorded as 'I'/'Aye' in the minutes). The board noted that the COP structure was chosen to allow a five-year repayment without selling the note to a larger bank and to keep financing local where possible.

Board materials and artist renderings for the projects were said to be forthcoming and staff indicated the district would close the loan within about a week to make the funds available. The resolution passed; the meeting record does not show any opposing votes in the roll call provided.