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Mattawan board authorizes borrowing up to $1.082 million for November debt payments and approves $1 million bond sale
Summary
The board voted to borrow up to $1,082,419 from the School Loan Revolving Fund to meet Nov. 1 debt payments and approved selling $1,000,000 Proposal 2 bonds to JPMorgan Chase Bank under a resolution provided by Thrun Law Firm; both actions passed 6–0 with one absence.
The Mattawan Consolidated School Board approved two financial measures Oct. 13, 2025: authorization to borrow from the School Loan Revolving Fund to cover November debt payments and approval of a bond sale.
President Ted Roethlisberger moved and Rick George supported a resolution to borrow an amount not to exceed $1,082,419 from the School Loan Revolving Fund to meet bond payments due Nov. 1, 2025. The motion passed on roll-call with six ayes and one absence (M. Noffsinger).
Separately, Roethlisberger moved and Vickie Mabin-Herzberg supported a resolution to approve the sale of $1,000,000 in Proposal 2 bonds to JPMorgan Chase Bank, recorded in an official resolution provided by Thrun Law Firm. That motion also passed 6–0 with one absence.
The meeting minutes record the motions and vote tallies; the transcript does not include additional detail on terms of the borrowing or bond sale beyond the amounts, purchaser and reference to the legal resolution. Next steps likely include final documentation and coordination with the district’s financial and legal advisors to execute the borrowing and bond transfer in accordance with the recorded resolutions.
