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Board approves authorization to sell up to $4 million in bond anticipation notes
Summary
Board approved Resolution 25-2026-14 authorizing issuance and sale of 2026 general obligation bond anticipation notes with a maximum principal amount of $4,000,000; discussion clarified prior resolution revisions and presentation of calculations.
The board approved a resolution authorizing the issuance and sale of 2026 general obligation bond anticipation notes with a maximum principal amount of $4,000,000. The motion to approve Resolution 25-2026-14 was moved and carried by voice vote.
Public comment raised questions about timing and advisor selection for bond sales; the board discussed that the item was a revision of a previously expired bond resolution and that corrections had been made to the prior materials to clarify how cost calculations were presented. Board members asked staff and advisors to continue clarifying issuance costs and premium calculations for public transparency.
