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Marysville board approves bond resolution authorizing up to $18.5 million in school bonds
Summary
The Marysville Public Schools Board approved a resolution authorizing issuance of up to $18.5 million in School Building and Site Bonds, delegating authority to sell and close the bonds if specified financial parameters are met.
The Marysville Public Schools Board of Education voted Aug. 21 to approve a bond resolution authorizing the issuance of School Building and Site Bonds in an amount not to exceed $18,500,000, according to district minutes.
Jennifer McKay, director of business and finance, presented the resolution prepared with PFM, the district's financial advisor. McKay told the board the resolution would allow the bonds to be sold via competitive sale and would delegate to district staff the authority to sell and close the bonds without further Board action if agreed financial parameters are met.
Board members approved the bond as part of the consent grouping. The minutes list the resolution as included in Exhibit C. No bond sale schedule, interest-rate assumptions or expected closing date were specified in the minutes.
