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Board adopts resolution to reimburse expenditures for Gentry Elementary expansion
Summary
Trustees approved a resolution authorizing expectation to reimburse certain Gentry Elementary construction expenditures from future bond proceeds and fund balance; Mr. Prado said the project cost is about $13.7 million and roughly $5 million would come from the 2025 bond.
The Mesquite ISD board adopted a resolution to declare the district’s expectation to reimburse specified expenditures for the Gentry Elementary project from future bond proceeds and other sources. Mr. Prado described the financing mix and the project's status: "The total cost was gonna be about $13,700,000," and he said a likely split would include approximately $5,000,000 from the 2025 bond, about $2,000,000 from the 2018 bond and the remainder from fund balance.
The resolution authorizes the district to treat prior and near-term expenditures as reimbursable with proceeds of future debt. Trustees moved and seconded the resolution and approved it by voice vote. Prado said the exact allocation among funding sources could shift slightly as final bond accounting is completed.
