Board puts $100 million short-term construction note resolution and multiple SPLOST contracts on consent

District financial staff recommended the board authorize a request for bids for $100 million in short-term construction notes to be repaid in December 2026 from SPLOST revenues, saying early borrowing reduces construction cost risk and can allow projects to start sooner.

"The proposed short term construction notes for 2026 are for $100,000,000," CFO David Baker said, explaining the notes are a short-term borrowing instrument repaid with SPLOST 6 proceeds and that three major rating agencies had again assigned the district its highest ratings. Baker said administration would present the winning lowest net interest cost bid at the January 2026 meeting and that proceeds would be received then.

Staff also presented several SPLOST-funded construction recommendations (construction-manager-at-risk for McEachern High grandstand replacement, renovations at Betty Gray Middle, Campbell High and Daniel Middle schools, Kennesaw Mountain auditorium seating, Trent Elementary annex replacement, and other items). For example, the Betty Gray renovations were recommended to a contractor for $4,993,500 and Campbell High renovations for $2,277,820; staff confirmed these are SPLOST 6 budgeted projects. Board members discussed scope and preservation of legacy features (historic gym flooring) and the opportunity for school foundations to fund enhancements.

Each item was moved to the consent agenda for formal action at the upcoming meeting. The board did not conduct a formal roll-call vote on these recommendations during the work session; staff said the consent items will be presented for approval at the regular board meeting in January 2026.