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School board authorizes up to $18.9 million in bonds to fund school sites and facility improvements
Summary
The Walker-Hackensack-Akeley School Board unanimously adopted a resolution authorizing General Obligation School Building Bonds, Series 2026A, allowing issuance up to $18,900,000 with a true interest cost cap of 5.00% to finance voter-approved site and facility improvements.
The Walker-Hackensack-Akeley School Board voted unanimously Dec. 8 to authorize the issuance of General Obligation School Building Bonds, Series 2026A, in an amount not to exceed $18,900,000 to finance acquisition and betterment of school sites and facilities approved by district voters on Nov. 4, 2025. Member Linsey McMurrin introduced the resolution and Member Barbara Sherman seconded the motion; the board recorded no opposing votes.
The resolution authorizes PMA Securities, LLC to solicit proposals and allows the superintendent or business manager and any board officer to approve the sale provided the aggregate principal amount does not exceed $18,900,000 and the true interest cost does not exceed 5.00%. The resolution also authorizes preparation and distribution of an Official Statement and binds the district to statutory requirements for state credit enhancement and tax-exempt reimbursement procedures. “not to exceed $18,900,000, the proceeds to be used to finance the acquisition and betterment of school sites and facilities,” the resolution states.
