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Measure HV bond: district briefed on timeline and $8M first issuance
Summary
ISM Advisors outlined how Measure HV proceeds will be issued over multiple series and why the district expects an approximately $8 million first issuance around late July 2025. The presentation explained tax‑rate constraints, capital appreciation bonds, and the steps before pricing and receipt of funds.
ISM Advisors' John Isom gave a technical overview of the district's Measure HV general obligation bond program, summarizing constraints that shape issuance size and timing and why the board is recommending a negotiated sale in the current market. "62% of the voters gave us authorization to upgrade, renovate, and renew schools in the community," Isom said, and he described an issuance schedule with series in 2025, 2027 and 2029 and a planned first issuance of roughly $8,000,000 in late July.
Isom walked the board through assessed value, tax‑rate projections, interest‑rate sensitivity and capital appreciation bond (CAB) disclosure requirements. He explained that the district will prepare legal documents (preliminary official statement, continuing disclosure, bond purchase agreement) and seek ratings, with pricing and close dates to be determined based on market conditions. The presentation emphasized the need to balance tax rate stability, timing and project cash‑flow needs before accelerating sales.
