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Board adopts resolution authorizing $5.9M general obligation bonds and levy to repay them
Summary
The Noble Board adopted a resolution providing for issuance of $5,900,000 in General Obligation Building Bonds, prescribing form, registration, and levy of an annual tax for payment of principal and interest; motion passed 4–0 with one absent.
The board considered and approved a resolution authorizing issuance of General Obligation Building Bonds in the amount of $5,900,000. The resolution, as recorded in the minutes, prescribes the form of the bonds, provides for registration, directs levy of an annual tax to pay principal and interest, and fixes other details of the issue.
Deputy Clerk Randy Sheppard moved to approve the resolution and Member William Broom seconded the motion. The vote was recorded as four in favor, zero opposed, with one member absent. The minutes do not enumerate the resolution’s full text or specify the intended projects to be financed with the bond proceeds.
The resolution formalizes the board’s authorization to issue the bonds consistent with the election that previously authorized the district to incur general obligation indebtedness. The minutes record the procedural passage but do not include subsequent administrative steps or a closing timeline.
