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Bond counsel lays out three levy‑transfer and bond‑timing options as Missouri bill could restrict election timing
Summary
At a May 7 work session, Piper Sandler bond counsel Brent Blevins told the Francis Howell R‑III board it can pursue an April 2027 no‑tax‑rate bond and a 12.5¢ levy transfer to operating that would generate roughly $5.5 million a year, but pending state legislation (SB1002) could force districts to run such measures only in even‑year Novembers, changing timing and strategy.
Brent Blevins of Piper Sandler told the Francis Howell R‑III board at its May 7 work session that the district can move a portion of its debt‑service levy into the operating levy via referendum and still pursue ‘no tax rate increase’ bond issues, but timing and amounts depend on pending state legislation.
Blevins said the district’s debt‑service levy has held near $0.67 per $100 assessed valuation for many years and that the board could run an April 2027 no‑tax‑rate general‑obligation bond issue of about $162 million combined with a roughly 12.5¢ levy transfer to operating. “That transferred April 2027…would generate about $5,500,000 in your operating budget,” Blevins said, adding that the additional operating revenue would not appear until the FY28 tax cycle after the September tax‑rate hearing.
Why it matters: moving levy authority from debt service to operating increases near‑term…
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