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Board decides not to pursue PERS bond after market changes
Summary
Superintendent told the board that market shifts have reduced the expected savings from a proposed general‑obligation PERS bond to a point where the district will not pursue the bond at this time; the item remained on the agenda as an informational update.
Superintendent (S1) updated the board on analysis of a potential general‑obligation PERS bond and said projected savings have narrowed because of market changes. "We looked into how to do that... the market has drastically changed," Superintendent (S1) said, and added that the estimated savings would be "in between 4 and 500, thousand dollars," phrasing the district's prior estimate in the meeting record.
After consulting with legal and bond counsel, the superintendent said the district will not move forward with the PERS bond under current conditions; the item was retained on the agenda only as an update and no formal bond action was taken. Board members accepted the update and no vote on issuing a bond occurred at the meeting.
