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Board: $20M bond sale will fund campus projects; stadium completion expected in December
Summary
District staff told trustees the district sold just over $20 million in bonds for facilities projects, cost of issuance came in far below estimates, and officials reiterated stadium construction is expected to finish in December, making it unavailable for this sports season.
District finance staff reported the district sold "just over $20,000,000" in bond proceeds this summer to fund facility projects, and noted the cost of issuance was materially lower than projected.
"What we had predicted was the cost of issuance was gonna be about $238,000. It actually came in we were expecting 261,000. It came in at 132,000," Dr. Weimer said, crediting strong bond ratings and market interest for the lower fees.
Weimer reiterated the publicly stated stadium timeline: "December is still the completion date for the stadiums, so we are not expecting to be able to play any games in this particular season." He described construction milestones — foundations, track work, stands, and interior finishes — and cautioned that elements such as track surfacing and turf require specific sequencing that limits acceleration of the schedule.
The superintendent's team also outlined near-term procurement and planning steps: bids for the business park and district-office interior work are expected in September and October; site infrastructure will be built to allow future solar arrays and EV charging; and access-control systems (card keys, video) will be piloted at the new site with a potential districtwide rollout over several years.
Why this matters: the bond proceeds and bid schedule affect when campuses gain new facilities and safety systems, and the stadium timeline has direct impact on athletics and facility use for the coming school year.
Next steps: staff will post the cost-of-issuance paperwork on the agenda (an administrative requirement), solicit September/October bids for the business-park work, pilot access-control systems once the new office is occupied, and bring a consolidated five-year master plan to the board in January–February.
