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Meeting Date:
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3/21/2024 - 7:00 PM
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Category:
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Information and Study Items
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Type:
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Action
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Subject:
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Measure I: Resolution 23-24-06: Terms And Authorizing The Sale and
Issuance of Refunding Bonds and Related Actions
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District Priorities:
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Enclosure
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File Attachment:
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Summary:
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At the November 2014 election, voters within the District voted to approve Measure I. The Board will have the opportunity to consider the adoption of a Resolution authorizing the sale of the Bonds via a competitive bid process using the negotiated sale statutes.
In addition, the Resolution:
• Establishes not-to-exceed Bond issuance amount of $36,000,000 and a minimum net present savings threshold of 3% of the par amount of the General Obligation Bonds, Election of 2014, Series 2014 being refunded
• Approves the forms of various documents related to the issuance of the Bonds (as further described in the following sections), and authorizes certain District officials to execute the final versions of the documents with information available after the sale of the Bonds
• Identifies Parker & Covert LLP as Bond Counsel, Zions Bancorporation, National Association as Paying Agent, and our firm as Public Finance Consultant to the District with respect to the Bonds
• Provides, in Exhibit A, a good faith estimate for the Bonds to be issued, including the true interest cost, finance charge, amount of proceeds to be received, and total payment amount
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Funding:
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Recommendation:
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Staff recommends that the Governing Board adopt Resolution 23-24-06: Terms And Authorizing The Sale and Issuance of Refunding Bonds and Related Actions.
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Approvals:
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Recommended By:
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Signed By:
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Carlena Grandey - Administrative Assistant to the Superintendent
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Signed By:
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Kristi Schwiebert - Superintendent
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