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School board approves resolution authorizing $1.435 million general obligation bonds
Summary
The SILO Public Schools School Board approved a resolution providing for issuance of $1,435,000 in general obligation building bonds, prescribing form and levy of an annual tax for principal and interest; the resolution passed by recorded vote with one member absent.
Agenda item #6 presented a resolution "providing for the issuance of General Obligation Building Bonds in the sum of $1,435,000 by this school district, authorized at an election called and held for such purpose; prescribing form of bonds; providing for registration thereof; providing for levy of an annual tax for the payment of principal and interest on the same; and fixing other details of the issue." The board moved to approve that resolution and the vote was recorded in the minutes as affirmative from Sean Bradley, Keith Eppler, Chris Cicio and Matt Gamble; Tabitha Kellam was recorded as absent.
The minutes record the motion and the recorded vote but do not print the ordinance or resolution number, the election authority citation, or an effective date beyond the meeting date. The resolution, as recorded in the minutes, authorizes the issuance and levying of a tax for debt service; further legal and closing documents would be required to report the full legal form, effective dates and procedural follow-through.
