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Board authorizes up to $6 million in refunding bonds to refinance district debt
Summary
Trustees adopted Resolution No. 416-2526 authorizing issuance and sale of up to $6,000,000 in 2026 General Obligation Refunding Bonds to refinance outstanding district bonds; the resolution passed by roll call vote 6-0.
The Mendota Unified School District Board of Trustees adopted Resolution No. 416-2526 on Feb. 11 authorizing the issuance and sale of 2026 General Obligation Refunding Bonds in an aggregate principal amount not to exceed $6,000,000 to refinance outstanding district bonds.
The resolution passed on a roll call vote, 6-0, with Trustee Sherry Charles absent. The board's action authorizes district staff and bond counsel to proceed with the refinancing transaction and to approve related documents and actions necessary to complete the issuance. No further bond terms (interest rate, maturity schedule, underwriter) were provided in the meeting record.
Board members did not debate the resolution at length during the meeting and no amendments were proposed. The authorization is intended to refinance existing obligations and lower debt service costs subject to market conditions and final financing documents.
