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Finance committee hears wrap-up of GRPS 2016 and 2019 bond programs; staff flags IRS limits on bond investment earnings
Summary
District staff told the finance committee the 2016 and 2019 bond programs are wrapping up, reported roughly $174.5 million in original bond issuance and described braided funding and project spending on HVAC, technology, security and new construction including Southwest Middle High and Innovation Central.
Staff shared a year-end report on the district's 2016 and 2019 bond programs, describing how proceeds and braided funds funded renovation and new-construction projects across the district and noting compliance issues the district continues to monitor.
“Original bond issue, we received about $174,500,000 in it for the actual bond issuance,” a staff member said while reporting bond program totals and how funds were used. The presenter further noted that, when bond proceeds are held prior to spending, the district invests those funds and…
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