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Baird adviser outlines $7 million financing plan; board to consider parameters resolution May 27
Summary
Baird financial adviser Jordan briefed the Silver Lake J1 School District board on a $7 million bond financing plan, reporting a modeled interest rate of about 5.12% and reaffirming a $0.55-per-mill tax impact; the board will consider a parameters resolution on May 27 to allow staff to execute the sale when market conditions are favorable.
Jordan, a financial adviser with Baird, told the Silver Lake J1 School District board on Tuesday that the district’s $7,000,000 referendum debt could be structured to meet the tax-impact promise voters were given and still limit interest costs. "You don't need all 7,000,000 of it right away," Jordan said, urging a single issuance and short-term investment of proceeds to earn additional project funds.
The presentation laid out the financing goals: keep the referendum tax impact at $0.55 for debt, minimize total interest expense and time issuance to reduce rate risk. Jordan said the district’s modeled…
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