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Board authorizes resolution to pursue up to $275,000 in Working Cash Fund bonds and calls public hearing
Summary
Trustees approved a resolution declaring intent to issue up to $275,000 in Working Cash Fund bonds to increase the district's Working Cash Fund and separately approved calling a public hearing on the bonds; both votes were unanimous.
The board voted to approve a resolution declaring its intent to issue Working Cash Fund bonds not to exceed $275,000 to increase the district’s working cash balance. The minutes record: "Motion to approve the Resolution declaring the intention to issue not to exceed $275,000 Working Cash Fund Bonds for the purpose of increasing the Working Cash Fund of the District" was made by Abigail Barrett and seconded by Tim Badal; the motion passed 6–0.
The board also approved a companion resolution calling a public hearing concerning the intent to sell the bonds, again by unanimous vote. The motions were procedural steps to permit public notice and a hearing under applicable law; the resolution sets the maximum principal at $275,000 and directs publication of notice as provided by law.
