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Hartford J1 board approves resolutions to place $8.2 million bond referendum on November ballot
Summary
The Hartford J1 School District Board on Aug. 20 approved an initial resolution authorizing up to $8.2 million in general obligation bonds and a second resolution to place a single referendum question on the November ballot. District finance staff said about 60% of project costs would be bond-funded and about 40% paid from existing capital funds.
The Hartford J1 School District Board of Education voted Aug. 20 to authorize the district to seek voter approval of up to $8.2 million in general obligation bonds and to place a single referendum question on the November ballot.
Mr. Majeris, speaking from the district's financial team, told the board that the $8.2 million figure represents roughly 60% of the planned project costs, and that the district intends to cover the remaining 40% from its existing capital reserves (fund 46). "This dollar amount signifies about 60% of the total amount, and the district is paying 40% out of funds that's already accumulated for maintenance-type issues," Majeris said.
Board members moved and seconded the initial resolution authorizing the bonds; the motion passed on a roll-call vote. A subsequent motion to provide for a referendum election on the question was also moved, seconded and approved on a roll-call vote.
Majeris outlined why the board must distinguish informational communications from advocacy, saying district staff must remain neutral while board members may speak as private citizens. He also described bond mechanics: the district intends to issue general obligation bonds (supported by the district's taxing authority) rather than revenue bonds, will seek a Moody's rating, and plans to stagger maturities to align with the district's debt schedule.
When asked about property related to storage and facilities, staff said they had not yet obtained an appraisal for the old Boys & Girls Club building and would gather fair-market information before recommending sale or marketing options.
Outcome and next steps: The board approved (by roll call) the initial resolution authorizing general obligation bonds not to exceed $8,200,000 and separately approved the resolution to place the referendum question on the November ballot. If the referendum passes, the district expects to pursue bond issuance and associated rating activity as described by the finance team.
Votes and procedure: The record shows the motions were moved and seconded, with roll-call votes recorded as 'Aye' by the members present and the motions carried. The board was advised of legal limits on district involvement in referendum advocacy and of reporting requirements for any referendum committees that form.
