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Board briefed on plan to issue final $50.65 million of referendum bonds, sale slated Feb. 9
Summary
A bond advisor told trustees the district plans to issue the remaining $50.65 million of referendum authorization with a projected 20‑year all‑in rate near 4.1%; funds would close March 2, 2026, and carry an eight‑year call feature for future refinancing flexibility.
The Whitnall School District received an update on the final phase of its referendum financing at the Jan. 26 meeting as trustees reviewed a plan to issue $50.65 million on Feb. 9, 2026 and close the sale on March 2, 2026.
Eric, the district’s bond advisor, explained the district previously issued roughly $28.5 million across two earlier issuances and that the upcoming sale would complete the $79.1 million authorization. "We're here this evening to lay out the plan to issue the remaining $50.65 million," he said, describing a projected all‑inclusive 20‑year rate near 4.1% and an amortization schedule that would lock in a roughly $5.2 million annual levy requirement, he said, subject to final market pricing.
The presenter described the reasons for staging prior sales (to avoid arbitrage rules for issuances under $15 million per calendar year) and noted the transaction will include an eight‑year call feature that would allow future boards to consider refinancing if market rates improve.
Board members asked for a final accounting of cost savings and advisor fees; the presenter agreed to provide a report showing realized savings and service costs as part of the final financing packet.
No vote was required at the Jan. 26 briefing; the board will consider approval of the financing documents at its scheduled Feb. 9 meeting, when the sale is planned to occur.
