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Raymond James outlines $48 million bond plan and estimated tax impact after referendum approval
Summary
Materials presented to the board show a plan to issue $48 million in general obligation referendum bonds, with a proposed sale and closing in early 2025 and an estimated initial tax impact of roughly $401–$407 on a $325,000 home and an average annual payment near $374–$380, depending on scenario assumptions.
Raymond James provided a referendum financing plan in the board packet detailing issuance parameters for $48 million in general obligation bonds approved by voters Nov. 5, 2024. The presentation included market analysis, a proposed timeline (bond sale in late January 2025, close on Feb. 13, 2025) and various assumptions about yields and spend-down schedules that drive tax estimates.
The materials include an estimated initial tax impact per the ‘Promise’ of approximately $401–$407 for a $325,000 home and an average annual payment estimate of about $374–$380, depending on interest-rate scenarios. The packet also notes constraints and IRS arbitrage rules the district must follow if it issues tax-exempt bonds.
