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Board approves bond refunding and sets parameters for refunding resolution
Summary
The Royalton board approved bond refunding and a related resolution establishing minimum savings of $100,000, a maximum par amount of $16,650,000 and requiring execution before Feb. 1, 2025; both votes were unanimous (6–0).
Randy Hackett moved to approve bond refunding (Item 10.c), seconded by Rian Hofstad; the board recorded the vote as Yea: 6, Nay: 0. The board then considered a bond-refunding resolution (Item 10.d) that specifies a minimum savings threshold and a maximum par amount and passed that resolution by unanimous vote.
The resolution language recorded in the minutes establishes three formal parameters: a minimum savings of $100,000, a maximum par amount of $16,650,000, and that the refunding must be executed prior to February 1, 2025. Director Tyra Baumann moved the resolution and Hofstad seconded; the recorded vote was Yea: 6, Nay: 0. No dissent or conditions beyond those parameters are recorded in the provided segments.
