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Wabasso board approves bond resolution to finance roofing and facility projects
Summary
After a presentation from Baird on proposed bond payments, the ISD 640 board unanimously approved a resolution declaring its intent to issue general obligation bonds to fund projects in the district’s ten-year facility plan, including roofing work.
The ISD 640 Board of Education voted unanimously Feb. 24 to adopt a resolution stating the board’s intention to issue general obligation bonds to finance projects included in the district’s approved ten‑year facility plan, including work on the district roofing project. The motion was made by Tom Carlson and seconded by Robyn Hillesheim.
Members heard a presentation from Baird representatives Mike Hoheisal and Matt Rantapaa on proposed bond payments in advance of the vote. The resolution explicitly cites Minnesota Statutes, Section 126c.55, and establishes compliance with reimbursement bond regulations under the Internal Revenue Code of 1986 as part of the district’s financing plan.
Board members did not set the bond sale date or final par amount at the meeting. Next steps noted in the agenda packet include proceeding with documentation and any required disclosures to enable issuance under the cited statutes and federal tax rules.
