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Board approves bond-authorizing and refunding resolutions tied to Measure C
Summary
Trustees approved three related resolutions to authorize a general-obligation issuance under Measure C, request county tax-rate actions needed for repayment, and authorize a refunding to refinance existing district debt; votes were taken by voice and recorded as passing.
The board considered three related finance resolutions proposed by the chief business officer: (1) a resolution authorizing issuance and sale of general-obligation bonds not to exceed $80 million (Measure C series), (2) a routine resolution to request the county board set tax rates to ensure repayment, and (3) a refunding bond resolution allowing the district to refinance up to $60 million of existing debt to save interest costs. The chief business officer described how the bond proceeds would continue implementation of the district's facilities master plan and modernization projects.
Trustees voted to approve each resolution by voice vote; the chair announced each resolution passed. The district will proceed with required legal and financial steps to issue bonds and coordinate with the county on tax-rate setting for bond repayment.
