Board directs sale of $9.5M in GO bonds; adviser reports premium and proceeds to fund projects

The Lewis Central Community School District board approved a resolution April 20 directing the sale of $9,500,000 in voter-approved general obligation school bonds, series 2026, to Robert W. Baird of Milwaukee.

A municipal advisor presenting the sale results summarized bids received and the financing terms, saying the winning bid produced an interest-cost metric near 3.1829 and included a premium that the adviser cited as roughly $412,000. The presenter said the immediate proceeds and previously held bond funds combine to give the district tens of millions of dollars available for architect and construction costs; combined totals shown in the presentation were described as approximately $31.39 million available to spend on the projects planned by the district.

The presenter explained the board’s chosen repayment structure is relatively short-term, which reduces total interest expense despite a materially visible dollar amount of interest. He noted the bonds become callable beginning June 1, 2030, and that the district will receive the remainder of the bond proceeds on May 20. The adviser encouraged trustees to refer constituent questions to district staff rather than circulate unverified information.

Trustees moved and seconded the resolution and approved it by roll-call vote.

Next steps include approving issuance documents at the May 4 meeting and, after proceeds arrive, investing proceeds until construction disbursals occur and implementing the facilities plan as bid packages are finalized.

Because the presenter gave multiple related figures in different slides (for example, two nearby stated net-proceeds figures in the slide deck), the district’s adviser figures in this report are presented as the ranges shown in the meeting presentation rather than a single derived value.