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Finance official: bond sale went well, ERP vendor decision expected in July
Summary
Ryan Copeland, finance and administration, told the committee the district completed a bond sale with a coupon near 3.99% (all-in cost about 4.22%–4.24%), and outlined a procurement timetable that could bring an ERP vendor to the board in July and start implementation Aug. 1.
Ryan Copeland, the district’s finance and administration lead, told the TCUD committee that the district’s recent bond sale performed strongly and that staff expect cash to be deposited around May 20.
“Our rate was 3.99%,” Copeland said, adding that, “when you add back in the cost of issuance, it came up to I think, 4.22% or maybe 4.24%.” He said an underwriter, Oppenheimer, purchased a 2027 series that otherwise had no public bids.
Copeland also described financing plans and near-term borrowing: the district secured a three-year interim loan that staff expect to repay with ASR next year. On software procurement, he said staff have completed initial vendor calls and will convene a GFOA-led evaluation committee to narrow vendors. “We will likely be bringing in July to the board a resolution to approve a contract with the ERP vendor,” Copeland said, and noted implementation could begin Aug. 1.
Why it matters: the bond pricing and any new ERP contract affect the district’s near-term debt service, operating costs and multi-year implementation timelines. The committee heard the finance update during the department reports with no formal vote recorded at the meeting.
