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Board approves $102.485 million in school building and refunding bonds
Summary
Trustees authorized issuance and sale of $102,485,000 in general obligation school building and refunding bonds, Series 2026A, including credit enhancement and reimbursement-bond compliance provisions; the measure passed unanimously. The authorization sets the district's financing plan but did not include issuance timing or interest-rate details in the meeting record.
Osseo Area Schools on Jan. 20 approved a resolution authorizing $102,485,000 in general obligation school building and refunding bonds, Series 2026A.
The resolution, moved by Thomas Brooks and seconded by Sarah Mitchell, authorizes issuance and sale of the bonds, provides for credit enhancement, and establishes compliance with federal reimbursement-bond regulations under the Internal Revenue Code. The motion carried on a 6-0 vote.
The board's action sets the legal authorization needed to finance capital projects and to refinance existing debt; the transcript did not record specific timing for sale, interest-rate assumptions, or which projects the bond proceeds will fund beyond general building and refunding purposes.
