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Oregon City board hears bond project updates, CBOC urges monthly scrutiny of reserve transfers
Summary
CBOC reported transferring $1.8 million in interest to program reserves (reserve ≈ $21.5M) and asked for monthly oversight through March; district staff described field turf installation, Pioneer Stadium subsurface work, land use filings for three elementary schools and a new Natural Resources Center of Excellence funded in part by a $15M Oregon State University extension contribution.
The board received detailed bond-program updates on Dec. 8, including a Community Bond Oversight Committee (CBOC) request for more frequent meetings and district staff reports on construction milestones.
Greg Sowell, CBOC chair, said the committee transferred $1,800,000 of interest income into the program reserve, bringing the reserve balance to roughly $21.5 million, and noted proposed reserve transfers such as a $3.8 million increased-scope estimate…
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