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Chisago Lakes board authorizes $4.9 million facilities‑maintenance bond sale
Summary
The Chisago Lakes School Board approved a resolution authorizing issuance and sale of $4,900,000 in General Obligation Facilities Maintenance Bonds (Series 2026A) on June 11, 2026. The vote was unanimous among trustees present and follows district planning to fund facility projects and long‑term maintenance.
The Chisago Lakes School Board voted unanimously on June 11 to authorize a $4,900,000 general obligation facilities‑maintenance bond issue, Series 2026A, to finance district facility projects.
Robyn Vosberg‑Torgerson and representatives from Ehlers Investment Partners presented details of the proposed bond sale and the district’s plan to use proceeds for long‑term facility maintenance. The board approved a resolution relating to issuance, sale and form of the bonds; the minutes record five trustees—Sarah Aadland, Josh Soderlund, Jennifer Penzenstadler, Jeff Lindeman and Lori Berg—voting in favor and none opposed. The motion carried as recorded by Chair Lori Berg.
Board documents for the meeting include a Post‑Issuance Debt Compliance Policy and a checklist of recordkeeping and continuing disclosure responsibilities that the Director of Business Services will follow, consistent with the board’s stated commitment to federal IRS and SEC continuing‑disclosure obligations.
Next steps listed in meeting materials include finalizing sale documents with Ehlers, opening custodial investment accounts with Pershing Advisor Solutions LLC, and continuing required post‑issuance compliance and reporting. The board packet also includes detailed long‑term facility maintenance planning (LTFM) and the district’s proportionate participation in SCRED LTFM budgeting.
