Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Capital Finance topic
No spam. Unsubscribe anytime.
Board reviews COPS financing items and tentative $300M project list; deferred maintenance prioritized
Summary
Staff and bond counsel presented documents "as to form" for certificates of participation and shared a tentative project list tied to roughly $300 million in financing; the board emphasized prioritizing deferred maintenance and asked for clearer project-ranking and finalized dollar figures.
Ms. Jenkins and district staff briefed the board on documents related to certificates of participation (COPS) financing. Counsel removed numeric dollar amounts from the documents presented "as to form," and staff provided a tentative list of potential projects that could be funded if borrowing proceeds as expected.
The project list discussed included (as described in the attached materials): Alta Vista replacement site, Lake Alfred (Alta Vista Lake Alfred), Wahneta, McLaughlin Middle School auditorium, Floral Avenue, and a component for deferred maintenance. Staff said the overall financing package under consideration is roughly in the range of $300 million and that the documents were being prepared to allow for final figures to be inserted once market conditions and specific estimates are finalized.
Board members pressed staff on prioritization and on aligning the project list with the district's five-year capital plan. Staff explained that leveraging impact fees for the Poinciana high school could free other funds for prioritized projects and that deferred maintenance must be treated as a top priority. Staff said final project costs and any formal bond approvals would come back to the board for action after counsel and market work are complete.
No binding financing action was completed in the work session; staff said some items on the evening agenda would be presented for approval "as to form."
