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Board approves final $63.225M school building bond issuance and calls abatement bond hearing for parking-lot projects
Summary
Board authorized the final school building bond issuance of $63,225,000 (series 2026B) and approved calling a public hearing for proposed property tax abatement bonds tied to parking-lot improvements related to the Crestview rebuild; staff said the approach shifts funding buckets without increasing tax impact.
The school board approved two related financing actions on June 23: authorization to issue the remaining school building bonds and calling a public hearing for a property tax abatement to finance parking-lot improvements tied to the Crestview rebuild.
Finance staff summarized that the board has authority to issue $63,225,000 in remaining school building bonds (series 2026B) to complete Building a Better Future projects. "So this particular resolution is the last issuance of school building bonds. The request is that the school board approve us to go ahead and start the process of issuing the $63,225,000 that remains in our authority for school building bonds," staff said. The administration also asked the board to call a public hearing on abatement bonds to move certain parking-lot costs into an abatement bucket; staff explained abatement bonds are limited to specific categories (parking lots in this case) and said the shift helps free building-bond dollars without increasing taxpayers' burden.
The board moved and approved the bond resolution and the abatement hearing call by roll-call votes (motions passed 6-0). Staff noted the abatement approach is structured as general obligation bonds and described savings compared with other bond vehicles. A public hearing on the abatement will be scheduled as required by statute.
