Board authorizes $30 million Measure O bond issuance and reconstitutes bond oversight committee

The Merced City School District Board voted March 11 to authorize the first series issuance of Measure O general obligation bonds for up to $30 million and to take related steps for a refunding expected to produce approximately $1.25 million in repayment savings.

Director of Facilities Brian Bane summarized the financing timeline: obtain a bond rating, complete pricing in April and close the first issuance in May. He noted some Measure O projects are already in planning and earlier, Measure M had been issued across multiple series; the district will follow its facilities master plan and facility subcommittee prioritization for project selection.

Bane also presented a resolution to reappoint five incumbent members to the Citizens’ Bond Oversight Committee for a second consecutive (and final) term under the bylaws and to appoint four new community members, expanding the committee to nine to improve quorum reliability. Board members discussed outreach efforts, Brown Act responsibilities for the committee and the need for clearer committee reporting on completed projects; trustees recommended stronger communications and website posting of committee reports.

Board members moved and seconded the resolutions and voted unanimously to approve the bond issuance authorization, the refunding resolution and the committee appointments.

Trustee Brooks, who previously served on a bond oversight committee, emphasized the committee’s role in monitoring projects and spending. Director Bane said the committee will meet quarterly and intends to formalize leadership roles within the committee after appointment.