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Board approves reimbursement resolution to preserve financing option for school buses
Summary
Trustees approved a reimbursement resolution that would allow the district to repay the general fund for school-bus purchases with future tax-exempt bond proceeds if voters approve a bond election in May; board emphasized the resolution does not obligate bond issuance.
The board approved a reimbursement resolution related to the district’s planned purchase of school buses, preserving the option to finance those purchases with tax-exempt bonds if a May bond election succeeds.
A presenter explained the resolution’s purpose: the district paid for or will pay bus purchases from available funds, and the reimbursement resolution allows the district to later reimburse the general fund with bond proceeds should voters approve a bond. The presenter stressed, "The reimbursement resolution does not obligate the district to issue bonds to finance the school buses, it just allows the district the option to do so in the future if the bond election passes." The board moved to approve the resolution; the motion passed 7-0.
Trustees asked no substantive follow-ups on the record; staff indicated the resolution is intended to maximize fiscal flexibility ahead of a potential bond issuance.
