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Yellow Medicine East board authorizes $2025A school building bonds
Summary
The Yellow Medicine East School Board on Sept. 22 unanimously adopted a resolution authorizing general obligation school building bonds, Series 2025A, and empowered district officers to award the sale and execute closing documents after a presentation by PMA Securities.
The Yellow Medicine East School Board unanimously adopted a resolution authorizing the issuance of general obligation school building bonds, Series 2025A, and authorized the superintendent or finance director and any board officer to award the sale and execute all documents necessary to complete the transaction.
Michael Hart of PMA Securities presented the bond sale process for the district’s building project and answered questions from board members before the roll call approval. The motion, made by Amanda Lecy and seconded by Sonja Pederson, carried by unanimous roll call vote of the seven board members present.
Board materials indicate the resolution provides for credit enhancement with respect to the bonds and delegates authority to district officials to finalize the sale; the minutes record the board’s vote but do not list sale amounts, interest rates, or a timetable for issuance.
