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Board approves up to $6.125 million in working‑cash bonds; advisor says rates remain near presented range
Summary
The board approved a resolution authorizing issuance of general obligation limited‑tax school bonds not to exceed $6,125,000 (series 2025) for working cash. Raymond James representative Elizabeth Hennessy said current market movement has left rates "mostly within a range" with expected rates under 4%.
The board considered and approved a resolution to issue general obligation limited‑tax school bonds not to exceed $6,125,000, series 2025, to provide working cash. The item was presented as the final step in the district's bond engagement process; Elizabeth Hennessy of Raymond James attended and answered board questions about market conditions.
When asked whether recent market volatility changed prior recommendations, Hennessy said the market has moved within a range but that the district's interest‑rate expectations remain similar to the prior presentation. "We're really within a range of interest rates...so we'll be looking at rates similar to what we have presented to the board — something under 4%," she said. Board roll call recorded affirmative votes and the motion passed.
Superintendent noted the working cash will help with capital improvements, which in turn support staffing and other district needs. The board approved the resolution by roll call vote.
