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Waterford UHS board acknowledges $10.9 million bond sale to Brownstone Investment Group
Summary
The Waterford Union High School Board acknowledged the sale of $10,900,000 in General Obligation Promissory Notes, Series 2026, to Brownstone Investment Group at an all-in cost of 3.88% interest, the remainder of referendum-authorized borrowing; the vote was unanimous.
The Waterford Union High School Board on Feb. 16 formally acknowledged the competitive sale of $10,900,000 in General Obligation Promissory Notes, Series 2026, to Brownstone Investment Group. Superintendent Francois told the board the District's Aa Moody's rating and strong finances attracted seven bids for the remaining portion of borrowing approved by voters in the Feb. 18, 2025, referendum.
"There was a motion by Beck, seconded by Datka, to formally acknowledge the sale $10,900,000 in general obligation bonds to Brownstone Investment Group with an all-inclusive cost of 3.88% interest," the minutes state; Beck made the motion and Kelly Datka seconded it. A roll-call vote recorded all ayes and the motion carried. The board recorded no dissent and did not amend the sale terms during the meeting.
Board members said the district's bond rating helped secure competitive interest costs. The sale represents the remaining borrowing authority approved by referendum and will fund ongoing construction projects the district reported during the meeting. No additional conditions or contingencies on the sale were recorded in the minutes.
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