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Bridge Creek Board adopts resolution authorizing $2.51M General Obligation Combined Purpose Bonds of 2026
Summary
The board adopted a resolution prescribing bond form, maturities, interest rates, registration, levy for debt service and continuing covenants; bonds are dated March 1, 2026 with maturities in 2028 and 2029.
The Bridge Creek Board of Education on Jan. 14, 2026, adopted a resolution authorizing the issuance of General Obligation Combined Purpose Bonds in the amount of $2,510,000, dated March 1, 2026. The resolution prescribes bond form and registration procedures and fixes two maturity amounts: $820,000 maturing March 1, 2028 at 3.70% and $1,690,000 maturing March 1, 2029 at 3.85%, with semiannual interest payments on March 1 and Sept. 1 beginning Sept. 1, 2027.
The resolution recites prior bond authorizations from elections in 2014 and 2022 and states that separate special funds will hold proceeds for their authorized purposes. It also directs certification and levy of an annual tax beginning in fiscal year 2026–27 to pay interest and constitute a sinking fund for principal. The minutes include standard legal language: "The Full Faith, Credit and Resources of said District are hereby irrevocably pledged to the payment of this Bond."
