Financial adviser briefs board on Measure R bond strategy and timeline

At an information presentation the board received an update on Measure R financing from Lori Reneer of Government Financial Services JPA, who said the measure passed with broad voter support and outlined a conservative borrowing plan.

Reneer said assessed values had risen sharply (noting a one-year growth figure presented to the board) and cautioned staff to model conservatively for future tax-rate calculations. She said the district's plan envisions issuing roughly $65 million in bonds across three series between 2025 and 2030, and staff modeled a level tax-rate projection in their current scenario to show potential taxpayer impact. Reneer emphasized that the county ultimately sets tax rates and that the district would work with the county to ensure accurate tax bills.

She also described accountability steps: recruiting and appointing a citizens' oversight committee, conducting required audits and performance reporting, and following GFOA best practices on the bond-sale method (competitive sale recommended to minimize cost). The schedule presented included a resolution to call the bond sale in April, a planned sale in May and closing in June, with proceeds deposited to the county treasury following closing.

Board members asked timing and tax-rate questions; Reneer said county actions and assessed-value volatility make precise tax-rate predictions change with each sale, but that the district had opted for conservative assumptions. The presentation was informational; no final bond sale authorization occurred at the meeting.