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Board approves bond‑proceeds manager and updates signatories; handbooks adopted
Summary
The board approved PMA Securities LLC and WISC to manage $20 million in referendum bond proceeds, updated authorized WISC signatories, and approved the 2025–26 handbooks after one clarification about cocurricular rules.
The Wilmot UHS School District board approved two financial actions tied to the district’s capital referendum and adopted the 2025–26 handbooks at its meeting.
Administration said the district will receive the first $20,000,000 of referendum bond proceeds at closing on July 9 and recommended hiring PMA Securities LLC with the Wisconsin Investment Series Cooperative (WISC) to manage investments, reporting and arbitrage tracking. A representative from Baird’s public finance group explained the recommended investment mix—U.S. Treasury securities, FDIC‑insured CDs and short‑term money‑market instruments—tied to the projected construction cash‑flow schedule.
The board approved the recommendation and also updated the WISC account signatories: removing Dave Betts and adding Christy Weinstock and Jamie Comar with full transaction authority, while adding Wayne Tranjo and Mike Matz with view‑only rights as board president and treasurer respectively.
Separately, administration clarified a question about the cocurricular code of conduct in the 2025–26 handbooks (distinguishing restrictions on staff‑led gatherings vs. non‑staff leaders running student groups) and the board moved and approved all handbooks as presented.
Both approvals were made by motion and vocal aye; no roll‑call tallies were recorded in the transcript. Administration said PMA/WISC will invest according to the spending schedule provided by the project manager and will report on arbitrage compliance as required.
