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Rio School District board approves bond and note resolutions for upcoming financing
Summary
The board approved three financing measures — a special tax refunding bond for CFD No. 1, bond anticipation notes and refunding bonds — to support district capital and refinancing plans; all measures passed unanimously on May 20.
The Rio School District Board of Education on May 20 approved three financing resolutions to support capital projects and debt refinancing.
Trustee Felix Eisenhauer moved approval of Resolution 2526/12, authorizing the sale and issuance of CFD No. 1, 2026 Special Tax Refunding Bonds; the motion was seconded by Trustee Eleanor Torres and carried unanimously. The board also approved Resolution 2526/16 authorizing the issuance of bond anticipation notes and Resolution 2526/17 authorizing refunding bonds, each by unanimous vote. Board members did not record dissent on these measures.
The financing items were presented with related documents including a preliminary official statement, supplemental fiscal agent agreements and escrow arrangements. Assistant Superintendent Dr. Rafael Gaeta outlined that the district anticipates using these financing tools to address capital needs and future bond requirements discussed in the summer facilities presentation. No dollar amounts for the bond issues were specified in the public discussion or on the agenda packet provided at the meeting.
The boardapproved actions occur as the district advances multiple summer projects and longer-term facilities planning. The board expects associated certificates and disclosure documents to be executed by district officers as part of the closings described in the resolutions.
