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Finance director outlines possible partial refunding of 2020 capital bond; no action taken
Summary
Director of Finance & Operations Paul Southerton briefed the board on a potential partial refunding of the 2020 capital bond, explaining mechanics and potential mill-rate impacts; staff indicated no board action was required at this meeting.
Paul Southerton, director of finance and operations, presented a follow-up on a potential partial refunding of the district’s 2020 capital bond.
Southerton explained that the refunding would not create new debt but could move future payments forward and affect the projected levy (mill rate). He reviewed refunding mechanics, outlined a conservative financial approach and referenced possible ballot timing in November 2026 or May 2027. Southerton indicated he will return at a future board meeting should staff recommend action, and asked board members to submit questions over the next two weeks.
