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Board approves bond‑sale resolution authorizing multi‑series bond issuance
Summary
Board members read and adopted a bond sale resolution referencing voter authorization not to exceed $24 million and board determination to issue up to $29 million; Huntington Securities was named underwriter and the first series is $14.5 million.
The board read into the record a bond sale preamble stating that, on May 6, 2025, qualified electors authorized bonds "not to exceed $24,000,000" and that the board determined to issue bonds with an aggregate principal amount "not to exceed $29,000,000." An administration representative indicated Huntington Securities (Huntington Capital Markets) will act as underwriter and said the first series will be $14,500,000 with the remainder issued as a later series to preserve a non‑tax rate increase.
The board moved (moved by Savannah; supported by Mary) and voted to adopt the bond sale resolution as read into the record. The documents are part of the board packet and posted on the district website.
The preamble language read by administration said the bond proceeds will be used for erecting, furnishing and equipping additions and remodeling school buildings, installing instructional technology, purchasing buses and improving athletic fields and sites. Administration said the split into two series is a financial decision to avoid a tax rate increase.
