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Board hears bond program update; $78 million on hand, about $173 million left to spend
Summary
The district's bond program manager reported roughly $173 million remains to be spent on projects, about $78 million is on hand now, and the district is planning a bond sale (about $40 million) next summer to extend funding.
Byron presented the bond-program and budget update, outlining the district's remaining capital needs and cash position for ongoing projects. "We've got 173,000,000, roughly left to spend on that project. Right now we have, 78,000,000 on hand," he said, and added the district expects to sell roughly $40,000,000 next summer to extend project funding.
Byron said the current funds will carry work into the middle of next fall without additional sales, and that planned future sales would rely on property-value changes and new commercial construction in the district. The board did not take action beyond hearing the update and thanking staff for progress reports.
