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;…