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Board approves second refunding resolution for 2026 bond series B
Summary
Trustees approved a second, related resolution authorizing issuance of GO refunding bonds (series 2026B) to take advantage of favorable rates, delegating timing to staff and advisors and stressing flexibility to act when conditions permit.
At the same meeting trustees also considered and approved a separate resolution for general obligation refunding bond series 2026B. Dr. Fitzpatrick described the item as related to the prior refunding authorization and said the board would proceed when market conditions are favorable.
Discussion emphasized timing and the value of flexibility if one of the two transactions works while the other does not. The board approved the resolution unanimously and confirmed staff would keep the board informed when the district is ready to market the bonds.
The superintendent and budget committee characterized the two resolutions as complementary tools to reduce the district’s cost of capital and simplify debt structure when advantageous.
