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Pinckney board ratifies bond refunding, OKs millage renewal on ballot and approves LESA budget
Summary
At its May 11 meeting the Pinckney Community Schools Board ratified a May 6 bond sale and refunding, voted to place a nonhomestead millage renewal on the August 4 ballot (estimated at about $5.5 million to the district), and approved the LESA 2026–27 budget; vote tallies were recorded by voice or individual assent in the meeting transcript.
The Pinckney Community Schools Board of Education on May 11 ratified a negotiated bond sale and refunding, approved placing a nonhomestead millage renewal on the August 4, 2026 ballot, and adopted the Livingston-County Special Education (LESA) 2026–27 budget.
District financial staff described an executed, negotiated sale and a separate refunding of outstanding bonds that drew strong investor demand. Administrators said the district secured a Moody’s A2 rating for the issue and that the transaction produced yield improvements and savings versus earlier structures. “We went out and sold $6.7 million of the final bonds and then also did about $30 million in refunding bonds,” the district’s finance presenter said, citing market interest and an overall savings percentage they described as roughly 7.5%.
The board ratified the May 6, 2026 bond sale by resolution. The district described a net savings percentage of about 2.2% and reported a debt-service savings figure in the meeting record; the transcript’s formatting of that dollar figure is unclear and is noted below.
Separately the board approved a resolution to place the district’s nonhomestead millage renewal on the August 4 ballot. Administration said the renewal is worth about $5.5 million under current law and urged the board to act before the filing deadline; the resolution passed by voice vote.
The board also reviewed the LESA budget for 2026–27 (the county cooperative that provides special education services) and approved its annual budget resolution. Administrators described LESA’s model as tax-driven and emphasized that the cooperative supplies special-education staffing and transition services, including the Pathways program for students up to age 26.
Board members recorded votes by voice or individual assent for the resolutions. Administrators said details and full numeric figures for the bond transaction and contract amounts are included in the official board packet and the signed resolutions available from district records.
