Santa Fe school board approves $40 million bond notice, ETN necessity resolution and superintendent contract

The Santa Fe Public Schools Board of Education voted to approve a notice of sale for $40 million in general obligation bonds and passed a necessity resolution to begin issuance of education-technology notes, and it approved a two-year contract for the superintendent.

Board President Noble called the meeting to order and the board heard a presentation from Eric Harrigan, who said the district will begin selling bonds authorized by voters and that the GO sale is planned for pricing on May 14 with a mid‑June closing. Harrigan said the district's tax base grew about 6% this year and described statutory timing that requires the ETN pricing window to occur within a short period after a necessity resolution is passed. "The district will start selling its first of bonds that were authorized by voters this past November," Eric Harrigan said during his presentation.

Art Melentes and Harrigan answered board questions about statutory timelines and market conditions; Melentes told the board the parameters resolution and delegation allow staff to sign the bond purchase agreement after underwriter selection. "What you have before you is a notice of sale of general obligation bonds for $40,000,000," Melentes said, explaining the parameters resolution and the 12‑year repayment plan.

The board approved Resolution 2025‑2026‑16 (notice of sale for the 2026 series GO bonds) and Resolution 2025‑2026‑17 (necessity resolution to begin the ETN schedule) by voice vote. After those approvals, the board moved and approved routine consent items including a $558,000 paving contract for Eco funded by bond/mill levy resources.

On a separate motion, Doctor Gonzales moved that the district offer the superintendent a new two‑year contract (July 1, 2026–June 30, 2028) with an annual salary of $208,000 (inclusive of a legislatively mandated 1% raise), coverage for professional dues and travel, and a $10,000 annual supplemental retirement contribution; the board approved that motion and subsequently authorized legal counsel and the board president to finalize and sign the contract.

Why it matters: The GO bond sale and ETN approval set in motion the district's capital-financing schedule and allow spending on planned facilities and technology projects once the sale closes. The superintendent's contract was approved in two motions and will be executed by legal counsel and the board president.

Votes at a glance - Resolution 2025‑2026‑16: Notice of sale — $40,000,000 general obligation bonds. Outcome: approved by voice vote. (Motion moved by a board member; second by President Noble; no roll-call tally recorded in the transcript.) - Resolution 2025‑2026‑17: Necessity resolution — education-technology notes. Outcome: approved by voice vote. (Motion moved and second; no roll-call tally recorded.) - Continuing bilingual/multicultural programs application: Outcome: approved by voice vote; board recorded roughly 2,000 students participating in 2026–27 programs. - Consent agenda (including $558,000 GM Emulsion LLC paving contract): Outcome: approved by voice vote. - Superintendent contract: Board approved offering a two-year contract at $208,000 per year and authorized counsel and the president to finalize and sign the contract. (Two related motions passed by voice vote.)

What comes next: Art/underwriters will proceed with market outreach and pricing with staff signing closing documents under the parameters resolution; the ETN pricing timeline requires a second formal board meeting within a short statutory window (May 14 is the planned pricing date for bonds). The contract will be prepared for signature by legal counsel and the board president.

Sources and provenance: Board meeting transcript (presentations and votes). Topic discussion ranges: bond presentation (SEG 079–186), notice of sale motion and approval (SEG 414–626), superintendent contract motions and approvals (SEG 1948–2020).