Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Bonds topic
No spam. Unsubscribe anytime.
Board approves authorization to proceed with Series B general‑obligation bond issuance
Summary
The Sunol Glen Unified board approved a resolution authorizing the issuance and sale of Series B general‑obligation bonds (not to exceed $4.5 million), after asking for technical edits to the resolution language and receiving an overview from Isom Advisors noting the district's AA credit rating.
The Sunol Glen Unified School District board voted to approve Resolution No. 24-2025-26, authorizing the issuance and sale of general‑obligation bonds, Series B, in an amount not to exceed $4,500,000.
John Isom of Isom Advisors told the board the key financing documents are nearly final and described the role of the preliminary official statement, the continuing disclosure certificate and the bond purchase agreement. "The district was affirmed as double a, so we got our credit rating back, just this week," Isom said, noting that the AA rating reflects the district's fiscal management while also acknowledging local tax‑base concentration.
Board members focused discussion on technical edits before signing: correcting punctuation and defined‑term references, clarifying the stated statutory maximum coupon rate, and ensuring consistency on interest‑rate language across documents. One member flagged a discrepancy showing 6% in one clause and 8% in another; staff and counsel agreed to fix it before final signature.
Chair moved to approve the resolution as amended; a second was called and the motion carried. The board directed staff to finalize the subordinate documents and authorized district staff to complete closing actions on the board's behalf.
Why this matters: approving the resolution gives the finance team authority to proceed with preparing the bonds for sale and positions the district to fund planned Measure J projects if market conditions remain acceptable.
