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Staff reports $17.5M collected so far and outlines bond planning steps
Summary
Staff reported nearly $17.5 million collected and outlined a high-level bond planning schedule that includes coming back to the board, credit-rating work, and an anticipated authorization quarter; an access road contract was also funded.
Staff member provided the meeting with a high-level financial update and bond timeline. "Almost 17,500,000 have been collected," the staff member said, adding that revenue started being collected in July and that the project team expects to see related numbers in September; the staff member also referenced a balance figure the presentation showed.
The staff member outlined a bond planning schedule, saying the team will return to the board to describe bond steps, begin credit-rating work, and target the quarter when bond authorization would occur. The briefing also noted the board moved money earlier that day to put in an access road contract to enable initial site work.
