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Financial advisor outlines $13.9M debt capacity and bond refunding options for Gavin SD 37
Summary
PMA Securities' representative Tammie Beckwith Schallmo told the board the district's current debt capacity is nearly $13.9 million and reviewed Series 2018A bond call provisions and refunding alternatives.
Tammie Beckwith Schallmo of PMA Securities, LLC presented a debt-capacity briefing and reviewed capital financing options available to the district. She said "The District's current debt capacity is nearly $13.9 million" and reviewed direct debt balances, statutory debt limits, and assumptions used in the presentation.
Schallmo outlined refunding basics for the district's Series 2018A bonds, noting the Series 2018A are not callable until Dec. 1, 2028 and explaining the difference between advance refunding and current refunding under federal tax rules. The presentation reviewed non-referendum GO bonds, life safety bonds, and other borrowing mechanisms and noted the district may establish a Debt Service Extension Base (DSEB) via referendum if it chooses to expand non-referendum capacity.
Board members were shown illustrative homeowner impacts for several bond-term scenarios and asked for follow-up material on timing, costs, and potential voter-authorized options.
