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Board approves resolution authorizing up to $80 million in Measure S general obligation bonds
Summary
The board adopted Resolution RR 2425‑25 authorizing the issuance of Measure S general obligation bonds up to $80 million; bond counsel summarized the preliminary official statement, purchase contract and continuing disclosure requirements that will guide the sale and ongoing reporting.
The Redondo Beach Unified School District Board of Education voted to adopt Resolution RR 2425‑25, authorizing the issuance of general obligation bonds for Measure S not to exceed $80 million.
Bond counsel Reed Gler provided an overview of the documents attached to the resolution: the preliminary official statement (which contains material terms, tax base and risk factors), a bond purchase contract (used to lock in pricing with an underwriter) and a continuing disclosure undertaking required by the SEC. Gler described the issuance as the first series of bonds under the voter‑approved Measure S.
Dr. Annette Alurn noted the resolution authorizes the district to sell up to $80 million in bonds secured by property tax revenues within the district. Board members had the opportunity to ask the bond counsel questions; staff said the documents were appended to the meeting materials for review.
The board approved the resolution and authorized staff to proceed with next steps for bond issuance and required disclosures.
