Moreland board approves tax-levy resolution to set rate ahead of $18 million Measure M bond sale
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Summary
The Moreland School District board voted to approve a county tax-levy resolution to set the tax rate now for the planned Series C sale of $18 million left under Measure M, a move officials said will stabilize rates for homeowners and could save about $1 million in interest costs when bonds are issued.
The Moreland School District Board of Trustees voted this evening to approve a tax-levy resolution intended to set the tax rate in advance of a planned sale of the remaining $18 million in Measure M school bonds.
Consultant Chris Hyatt (S2), introduced by district staff as representing KeyJet, told the board that voters approved Measure M in March 2020 for $80 million and the district has sold about $62 million to date. Hyatt said setting a tax levy now would "maintain the tax rate for voters so that they don't see a decline in tax rates and then a subsequent increase" when the Series C bonds are sold and estimated a benefit of "about 1000000 dollars worth of interest cost" from doing the levy in advance.
Board members asked whether the levy and bond timing would affect homeowners and the district's future bonding capacity. Hyatt said the county requires a debt-service estimate and related documents that must be submitted by June; setting the levy now keeps the tax rate stable and can reduce interest costs when bonds are sold later in the 2026–27 fiscal year. He said any future, separate bond measure would have its own tax rate and voter approval would be required.
A board member (S7) moved to approve the tax-levy resolution and the motion passed on a voice vote after the chair called for "aye." The motion sets district staff and the consultant to submit the required package to the county and return to the board later in the 2026–27 fiscal year to approve the actual bond sale.
Why it matters: By setting the levy now, district officials say taxpayers avoid seeing a decline in the tax rate followed by an increase tied to the later bond sale; the district projects roughly $1 million in present-value interest savings, though the consultant cautioned about timing and implementation steps that still require county processing.
What happens next: The district will prepare the county debt-service estimate and related documents this spring and return to the board when the district brings the Series C sale for formal approval. The board recorded the vote by voice; individual roll-call tallies were not recorded in the meeting transcript.
