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Board authorizes up to $7 million in revenue bonds for capital work
Summary
The board adopted Resolution 26‑13 authorizing the issuance of revenue bonds not to exceed $7,000,000 to support capital projects including parts of the water program; the item had been reviewed by the finance committee and public financing authority and passed on a voice vote.
The board adopted Resolution 26‑13 authorizing the issuance of revenue bonds in an amount not to exceed $7,000,000. Staff said the item had been presented earlier to the finance committee and the public financing authority and that advisors and authority representatives were available to answer questions. A board member moved adoption, the motion was seconded and the resolution passed by voice vote.
Finance staff noted the bond authorization will support capital work and is structured to avoid impact to the water enterprise fund; specifics of any sale and final terms will be handled through the district's financing advisors and returned to the board as needed.
