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Board adopts resolution authorizing up to $2.5 million in general obligation bonds
Summary
By unanimous vote the board adopted a resolution authorizing issuance of General Obligation Bonds, Series 2026, in a principal amount not to exceed $2,500,000, citing KRS Sections 66.011–66.191 and 160.160; proceeds designated for public school projects.
The Nicholas County Board of Education adopted a resolution (Motion #9554) authorizing issuance of General Obligation Bonds, Series 2026, in a principal amount not to exceed $2,500,000. The resolution cites KRS Sections 66.011 through 66.191 and 160.160 and states the bond proceeds are to be used for public school projects; the motion passed 4-0.
The resolution also authorizes establishment of funds to collect proceeds of a direct annual tax on taxable property within the school district if required, delegates certain determinations to the board secretary, and authorizes associated documents necessary for issuance. The minutes record the motion as unanimous.
