001Should be good. Okay, [clears throat] are we live? Okay, the time is 5:30 and that will call to order uh the hearing on the proposed issuance of a limited general obligation bond. So, I call to order the public meeting on the proposed issuance of a non-voted limited general uh obligation bond, also known as an LGO bond. The purpose of this hearing is to afford individuals an opportunity to present information and opinions to the board regarding the proposed LGO bond. We want to provide everyone who wishes to speak an opportunity to address the board about the proposed LGO bond. Before accepting comments from the public, I'd like to introduce Director of Business and Operations Marshall Cruise to present information to be considered by the board and those in attendance. Marshall. >> Uh thank you, President LaDue.
002Um on February 10th, 2026, the district voters approved a four-year replacement technology and school improvements levy, which [clears throat] I'll refer to in this public hearing as the capital levy. >> [snorts] >> Uh the capital levy will fund the acquisition and installation of computers and other technology equipment for student learning, safety, energy efficiency, and other capital improvements to school facilities, the acquisition of major items of equipment, the upgrading of failing heating, ventilation, and air conditioning systems and equipment, and the upgrading of school sports fields for student and community use. The [snorts] district is in need of accomplishing a portion of these improvements as soon as possible before the collection of all the taxes from the capital levy. The total estimated cost for these improvements to be financed is approximately $9,800,000. And the district does not
003have sufficient money on hand to be able to pay these costs. Under these circumstances, state law and the capital levy resolution authorizes the district to issue a non-voted limited general obligation bond known as an LGO bond to finance these costs. Let the record reflect that prior to tonight, notice of this hearing was given by advanced publication in the Ever Carroll, a newspaper of general circulation within the district. After due consideration, district administration believes it is in the best interest of the district to issue an LGO bond to pay a portion of the cost of these improvements. The proposed LGO bond will be issued in the principal amount of $9,800,000 and will mature on December 1st, 2030. The exact date, form, terms, price, interest rate, purchaser, and repayment schedule of the LGO bond will be fixed
004by a resolution, resolution number 252613, for the board for consideration after the hearing. The LGO bond will be repaid from legally available money from the capital projects fund and the general fund. Tax proceeds received from the capital levy and deposited in the capital projects fund will be used to pay principal on the LGO bond. >> [snorts] >> Under state law, interest of the LGO bond will be paid from money in the general fund. >> [clears throat] >> Casimir Valley Bank has offered to purchase the LGO bond under certain terms, certain general terms, a copy of which is included in your board packets. Resolution number 252613 also authorizes the issuance, sale, and delivery of the LGO bond and is available for review upon request. You find the resolution and others on our board docs website as
005well as our district website. Closing, the date the district receives the money from the bank, is scheduled to be May 27th, 2026. Following this hearing, if the board determines that the issuance of the LGO bond is in the best interest of the district, taking into account public testimony presented in this public hearing, the board may authorize the issuance, sale, and delivery of the LGO bond through the adoption of resolution number 2526-13. Thank [snorts] you very much. >> Thank you, Mr. Cruz. Uh Ms. Parkinson, are there any public testimony statements submitted and/or is there anyone present for public comment? >> No. >> Okay, let the record show that there are no members of the public wishing to speak that attended the public hearing and no written submissions provided to the district. Are there any others who
006wish to speak concerning the proposed issuance of the LGO bond? >> [snorts] >> Let the record show that no further speakers came forward. We thank you for your participation. The public hearing is now closed at 5:35.