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Board authorizes debt-service estimates to county as bond timetable approaches
Summary
Staff told trustees the district plans to sell bonds to finance renovation work but would likely miss the county's Aug. 1 deadline; the board authorized sending debt-service estimates to the county to preserve the bond process.
District staff told trustees the district will likely proceed with a bond sale in August but will not meet the county's Aug. 1 deadline to have bonds sold; to keep the process moving the board was asked to approve a resolution authorizing the district to submit debt-service estimates to the county.
A staff presenter explained that the district would submit the debt-service estimates now and, if the bond sale occurs after Aug. 1, the county would have the necessary estimates on file. The board voted to approve the resolution as presented and did not delay action pending the bond sale. The board then moved into closed session to address other matters.
The transcript records the request and the board's approval; staff indicated further bond planning would continue in August.
