Rock Hills board approves $5.67 million bond sale resolution to fund projects

The Unified School District 207 Board of Education voted 7-0 to approve Resolution 2026-011 authorizing the offering for sale of $5,670,000 in general obligation bonds, Series 2026.

Board advisers told trustees the district is preparing for a June 8 bond sale and a June 25 closing if the board ratifies final terms at its June meeting. An adviser who presented the plan said the district will seek a national pool of bids at 9:00 a.m. on sale day and that current market conditions make it likely interest rates will be between 4.5% and 4.75%, below earlier conservative planning assumptions of 5%–5.5%.

The financing plan presented to the board calls for a 25-year fixed-term repayment schedule and an initial levy of 7.25 mills to fund debt service. The presenter told the board the mill levy can be adjusted in later years depending on assessed valuation growth and that the district may be positioned to prepay bonds without penalty after seven years.

Board members asked how the sale would appear in revenue-neutral reports and were told the bond will be recorded in the district’s bond-and-interest fund and will be reflected in revenue-neutral calculations as an increase tied to the total district mills.

The resolution authorizes the district to proceed with Piper Sandler as the underwriter and to begin the rating and investor-disclosure processes. Trustees voted to approve the resolution by voice vote, 7-0.

The board will consider final debt-service schedules and ratify rates at its June meeting before closing on the bonds.