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Board hears Measure G bond advisor presentation on $35M Series A issuance; trustees asked to authorize sale documents
Summary
The district’s bond advisor outlined how the district would issue Series A bonds (up to $35 million) as part of the voter-approved $105 million Measure G program, described timing, rating, sale method and options to accelerate receipts; staff asked trustees to authorize documents to proceed when market conditions align.
Oakdale Joint Unified School District trustees heard a detailed presentation from the district’s bond advisor, who reviewed the mechanics and timeline for issuing the district’s first series of Measure G general obligation bonds.
The advisor said voters approved Measure G with an authorization totaling $105,000,000 and that the current resolution before the board would authorize a not‑to‑exceed issuance of roughly $35,000,000 for Series A to fund capital facility projects. The advisor described the factors that affect bond proceeds—interest rates, assessed value in the district’s tax base and term length—and explained that higher interest rates reduce the dollars available to the district. He also reviewed the district’s historical assessed value and its impact on tax rates.
On sale mechanics the advisor recommended a negotiated sale for the initial issuance, explaining that a negotiated process with a pre‑selected underwriter can help market the bonds and match unique deal characteristics. He outlined the three broad steps of a bond program—establish legal parameters and prepare documents, obtain ratings/insurance and then conduct pricing—and walked trustees through timelines for ratings, pricing and pre‑closing work. The advisor also described options such as bridge loans or bond anticipation notes if the district desires access to funds sooner than scheduled.
Staff presented Resolution 24‑25‑15 (authorizing the issuance and sale of general obligation bonds, Series A) and asked trustees to approve the resolution and delegate authority to district staff and advisors to complete documents and pricing as market conditions permit. The transcript shows the request for a motion; a vote tally or final outcome is not recorded in the provided excerpt.
The presentation included discussion of investor demand and market supply, and the advisor said comparable sales this season provide helpful pricing references. Trustees asked clarifying questions about timing and market conditions. Staff indicated final pricing and sale decisions would follow the district’s review of ratings and market conditions in the coming weeks.
