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Board approves resolution authorizing 2026 refunding bonds after PFM briefing
Summary
After a briefing from PFM, the board voted unanimously to adopt a resolution authorizing issuance of 2026 refunding bonds that relate to 2016 bond funds.
Brodie Killian, Director at municipal advisor PFM, explained the process for refunding bonds and how it relates to proceeds from the district’s 2016 bond program. Board members asked questions; the board then took formal action to authorize issuance of refunding bonds.
Member Partipilo moved that the board adopt the resolution authorizing the issuance of 2026 refunding bonds; Member McCulloch supported the motion, which passed unanimously (Yeas: 6; Nays: 0). The minutes record that Killian "explained the bond refunding process as it related to the 2016 bond funds" and that board members engaged with follow-up questions during the briefing.
The resolution provides the board’s authorization to proceed with refunding steps described by the municipal advisor; specific financing terms were not included in the minutes and would be developed in follow-up to the authorization.
