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Baker Tilling adviser says $995,000 general-obligation bond fits Smith-Green capacity
Summary
Baker Tilling presented a proposed $995,000 general-obligation bond, estimated to yield about $870,000 in project proceeds and roughly $94,000 in interest costs, and said the district's capacity after existing debt is about $2.9 million; the presenter said the bond bank meeting in mid-November is the deadline to lock amortization.
Megan of Baker Tilling told the Smith-Green Community Schools board on Oct. 6, 2025, that the district's current outstanding debt and statutory debt-limit calculation leave capacity of roughly $2.9 million and that the $995,000 general-obligation bond under consideration would fit within that capacity. "So the proposed bond that you were discussing this evening would be for 995,000," the presenter said.
Megan estimated approximately $870,000 in project proceeds after issuance costs for a $995,000 issue and projected interest costs of about $94,000 based on recent market inputs and a spread above recent bond-bank rates. She recommended a five-year amortization to match projected step-downs in payments but noted the resolutions allow repayment terms up to seven years; she also said the district must provide a final amortization schedule to the bond bank at a mid-November meeting to lock terms.
