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District reports $181M spent on Bond 2023; officials expect another bond sale this summer
Summary
CFO Byron Bryant told trustees the district has spent about $181,000,000 on Bond 2023 projects and has just over $100,000,000 remaining; the district will evaluate selling additional bonds this summer, with preliminary sale sizing to be assessed by late April.
CFO Byron Bryant provided an update on Bond 2023 finances, telling trustees the program has moved from planning into construction on multiple campuses and that the district has both significant expenditures and available cash on hand.
"We have spent a grand total of 181,000,000 already, and we have just over 100,000,000 on hand," Bryant said. He added the district will monitor market values and consider a new bond sale this summer, estimating a potential sale window of $150 million to $200 million depending on preliminary values at the end of April. Bryant said the district will coordinate with bond advisors and contractors to avoid schedule interruptions.
Board members asked for project completion calendars to be posted on the bond report webpage; Bryant agreed to add projected completion dates in next month’s update. The update was informational; no sale decision was made at the meeting.
