Authorization is requested to issue Sales Tax Revenue Bonds, Series 2013.
Attached for Board approval is the Resolution authorizing the issuance of Sales Tax Revenue Bonds, Series 2013 not to exceed $135,000,000.
Based on the recommendation of the Investment Oversight Committee, bonds will be sold by a delegated negotiated sales, allowing market entry at the most advantageous time. The financing team for this issue will consist of the School Board Attorney, Bryant Miller & Olive as Bond Counsel, Public Financial Management as Financial Advisor, US Bank as Trustee, Greenberg Traurig as Disclosure Counsel. The underwriting team will consist of Bank of America, Citigroup Global Markets, Inc. JP Morgan Securities, LLC, Merrill Lynch, Pierce, Fenner, Smith Inc., PVC Capital Markets, LLC, RBC Capital Markets and Raymond James & Associates will serve as the senior manager.
Strategic Focus: Provide Equitable Support Services
Strategic Plan Goal: The District will ensure fiscal responsibility and equitable distribution of resources.
The staff respectfully recommends the School Board's approval of the attached Resolution in order to use the proceeds of the surtax for specific projects as outlined on the attachment.