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Potosi board authorizes short-term borrowing under statutory rules
Summary
The School District of Potosi approved Resolution B authorizing temporary loans for district operations subject to statutory requirements; the motion was moved by Craig Bierman and seconded by Ryne Emler.
The School District of Potosi approved Resolution B at the Oct. 20 annual meeting to authorize the board to make temporary loans for current district operations "according to statutory requirements." Craig Bierman moved the resolution and Ryne Emler seconded; the minutes record the motion as passed.
The measure is a standard fiscal tool that allows the district to cover short-term cash-flow needs before levy collections or other receipts arrive. The minutes do not specify loan amounts, terms, or a lender; any use of this authority would be subject to state statutory conditions and subsequent administrative action.
