Walker-Hackensack-Akeley board adopts $18.9 million bond sale to fund voter-approved projects

Member Michael Anderson introduced a resolution authorizing the issuance and sale of General Obligation School Building Bonds, Series 2026A, to finance school site acquisitions and facility improvements approved by district voters on Nov. 4, 2025.

The resolution authorizes up to $18,900,000 in aggregate principal and records a proposal from Raymond James & Associates to purchase the bonds at a price of $20,146,184.25 with a true interest cost of 3.6241167%. The bonds are dated Feb. 10, 2026, bear interest semiannually (Feb. 1 and Aug. 1), and include a multi-year maturity schedule. The transcript records Michael Anderson moving the adoption and the board later recording unanimous votes in favor: Linsey McMurrin, Shannon Pfeiffer, Barbara Sherman, Keane Johnson and Michael Anderson.

The resolution establishes a Construction Fund for project costs and a Debt Service Fund for principal and interest payments, and it pledges the District’s full faith and credit. It authorizes an annual ad valorem tax levy to provide for timely payment of principal and interest and includes standard covenants about tax-exempt status, arbitrage compliance and continuing disclosure to the MSRB (EMMA). U.S. Bank Trust Company, N.A. is named as initial registrar in the resolution.

The board declared the resolution passed and adopted during the meeting. The transcript does not record additional specifics about the individual projects funded by the bond proceeds beyond the reference to projects approved by voters at the Nov. 4, 2025 election.