Board adopts Series I bond resolution to fund 2025 bond project, authorizes up to $53.85 million

The Novi Community School District Board of Education voted Dec. 11 to adopt a resolution authorizing the issuance of Series I bonds tied to the district's 2025 bond program. Trustee Mena moved that the Board "adopt the attached resolution to issue Series I of the bonds approved by the electors in the amount not exceeding Fifty Million Dollars ($50,000,000) for the purpose of funding a portion of the Bond Project," and also authorize refunding bonds not to exceed $3,850,000, for a combined total not to exceed $53,850,000; the motion carried 7‑0.

Board members did not record dissent during the roll call; the unanimous vote advances the district's plan to access voter‑approved bond proceeds and to pursue a small refunding component. The resolution was presented as Series I of the previously approved bond authorization; the motion's text specifies both the purpose (funding a portion of the Bond Project) and the maximum principal amounts authorized. The Board did not specify final sale timing or interest rate assumptions at the meeting.

The vote authorizes staff and legal counsel to proceed with the steps necessary to issue the bonds consistent with the resolution. The Board also approved a companion refunding authorization capped at $3,850,000, enabling the district to combine the Building and Site Bonds and the Refunding Bonds into a single series if practical.

Next steps noted in the meeting record include administrative follow‑up to finalize the structure and timing of the sale and any disclosures required by state law. The resolution language and the motion were entered into the minutes as presented and adopted by a 7‑0 vote.