Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Bond Issuance topic
No spam. Unsubscribe anytime.
Board adopts resolution authorizing bond issuance and delegates sale; district names advisers
Summary
Trustees approved a resolution authorizing the issuance of bonds from the May 5, 2026 bond authorization and delegated sale authority; the resolution names PFM as financial consultant, J.P. Morgan as underwriter and Thrun Law Firm as bond counsel.
The board unanimously adopted a resolution authorizing issuance of a first series of bonds (not to exceed $30 million in the first issue) to pay costs of the voter-approved Project and delegated the timing, structure and sale details to authorized district officers.
The resolution, included in the meeting packet, specifies that PFM Financial Advisors LLC will serve as financial consultant and J.P. Morgan Securities LLC is named as senior managing underwriter; Thrun Law Firm, P.C. was appointed bond counsel. The document also establishes a debt-retirement fund and a bond-issuance fund to receive proceeds and pay issuance costs.
The resolution text in the packet states: "On May 5, 2026, the qualified electors of the Issuer voted in favor of bonding the Issuer for the sum of not to exceed Fifty-Nine Million Nine Hundred Ninety-Five Thousand Dollars ($59,995,000), the proceeds to be used for the purpose of ... (the 'Project')." Trustees voted 6-0 to adopt the resolution.
What the board approved: authority to issue bonds, create the debt retirement and issuance funds, and to delegate final sale and pricing to the superintendent and assistant superintendent for finance within parameters set by bond counsel and the board. The board also authorized staff to file for any required state approvals and to execute continuing disclosure agreements and related closing documents.
