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Board authorizes application to preliminarily qualify bonds with state treasury
Summary
The board approved filing an Application for Preliminary Qualification of Bonds with the Michigan Department of Treasury; the motion passed unanimously.
The Saginaw Township Board of Education voted June 19 to approve administration's recommendation to execute and file an Application for Preliminary Qualification of Bonds with the Michigan Department of Treasury.
Superintendent Jamie Kraatz presented the motion, which was offered by David Booth and seconded by Jenean Coughlin; the roll-call vote was recorded as unanimous. The minutes do not list bond principal, use of proceeds, or estimated issuance schedule; the application to the Department of Treasury is the formal first step in seeking authorization to issue bonds for district capital purposes.
Next steps described in the minutes are filing the application promptly with the state treasury; any subsequent bond issuance would require further board approval and disclosure of financing terms.
