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Board approves $15 million bond issuance and adopts five‑year forecast
Summary
Treasurer Thompson recommended issuing $15 million in bonds before year‑end to earn investment interest; the board approved the bond issuance and accepted a five‑year forecast that projects positive reserves in FY26 before returning to deficit spending later in the forecast period.
Treasurer Doctor Thompson outlined the rationale for issuing $15,000,000 in bonds before the fiscal year ends: investing those proceeds sooner allows the district to earn interest on the proceeds before money is spent on capital projects. He explained the arbitrage rules that limit how public entities may earn on borrowed funds and said the proposed amount would avoid triggering amortization limits.
Thompson said the…
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