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District plans additional bond sale to fund referendum work; staff expects an October issuance
Summary
District staff told the operations work group they anticipate another ~$200 million bond sale in October as part of the $507M referendum financing program and will bring resolutions for board consideration.
District finance staff outlined the financing plan for the referendum program and said they anticipate additional bond issuances to fund Phase 2 work. "Of the $507,000,000, right now, we're projecting to have 3 sales. We already did the $200,000,000. We would like to come with another $200,000,000 likely hitting the market, in October," staff told the board.
Staff said they have been coordinating with financial advisors and will bring related board resolutions and legal language as the GMP execution and other contract items move through legal review. The finance overview was presented as part of the scope-and-sequence item and staff said they will return to operations work group in September with more detailed cash-flow and bond-sale timing.
