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Granite Falls School District holds hearing on $9.8 million non‑voted LJGO bond
Summary
The Granite Falls School District board held a public hearing beginning at 5:30 p.m. on a proposed $9.8 million non‑voted limited general obligation (LJGO) bond to advance capital‑levy funded technology, HVAC and field upgrades; no members of the public spoke.
The Granite Falls School District board held a public hearing that opened at about 5:30 p.m. to consider the proposed issuance of a non‑voted limited general obligation (LJGO) bond to finance a portion of projects authorized by the district’s recently approved capital levy.
Marshall Cruz, the district’s director of business and operations, told the board that voters approved a four‑year replacement technology and school improvements levy on Feb. 10, 2026. "The capital levy will fund the acquisition and installation of computers and other technology equipment for student learning, safety, energy efficiency, and other capital improvements to school facilities," Cruz said. He estimated the amount to be financed at "approximately $9,800,000."
Cruz said the district does not have sufficient cash on hand to complete some planned improvements before levy tax receipts are collected, and that "state law and the capital levy resolution authorize the district to issue a non‑voted limited general obligation bond" to finance those costs. He said the proposed LJGO bond would be issued in the principal amount of $9,800,000 and would mature on Dec. 1, 2030. "The LJGO bond will be repaid from legally available money from the capital projects fund and the general fund," Cruz said, adding that tax proceeds from the capital levy deposited into the capital projects fund would be used to pay principal and that interest would be paid from the general fund.
Cruz told the board that Kashmir Valley Bank has offered to purchase the LJGO bond under terms included in the board packet. He identified the resolution that will fix the final terms as Resolution No. 2526‑13 and said the board will consider that resolution after the hearing; the district scheduled the closing for receipt of proceeds on May 27, 2026. Cruz also said copies of the resolution and related documents are available on the district’s website and in board materials.
No members of the public were present to comment and no written submissions were received, Miss Parkinson said. With no public testimony, the chair closed the hearing at 5:35 p.m. The board may next consider adopting Resolution No. 2526‑13 to authorize the issuance, sale and delivery of the LJGO bond.
