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How the $5.4 million in tech proceeds will be split among Taos district and charters
Summary
Secretary Trujillo read the distribution of the net proceeds ($5,400,000) among the district and six charter schools, with the district listed to receive $3,317,416.46 and charters receiving smaller pro‑rata shares.
Secretary Trujillo read the section of the resolution that specifies how the net proceeds of the lease would be allocated among the district and eligible charter schools.
"Anasazi Charter School, $397,162.59. Taos Academy, $387,082.32. Taos Municipal Charter School, $417,323.13. Taos International, $320,552.55. Taos Integrated School of the Arts, $439,499.72. Vista Grande High School, $120,963.23. Taos Municipal School District, $3,317,416.46," Secretary Trujillo said while reading Section 11. The secretary indicated these allocations total $5,400,000 (the par amount of $5,495,000 less $95,000 in issuance costs).
The schedule was presented as part of the resolution packet and will take effect when the financing closes. The board approved the resolution during the special meeting; advisors said the district would receive funds at the scheduled Sept. 3 closing.
