The attached bond resolution has been drafted by our bond council, Faith Pettis, and carefullly reviewed by many parties. The impact of the approval of this resolution is well defined in the Resolution title:
RESOLUTION NO. 2583
A Resolution of the Board of Directors of Woodland School District No. 404, Cowlitz and Clark Counties, Washington, providing for the issuance and sale of general obligation bonds of the District in the aggregate principal amount of not to exceed $26,835,000 for the purpose of providing funds to construct, equip, acquire and make certain capital improvements to the facilities of the District as authorized by resolution of the Board of Directors, and approved by the qualified electors of the District at a special election held therein on April 17, 2012; providing for unlimited tax levies to pay the principal thereof and interest thereon; authorizing a preliminary official statement; and delegating to the Superintendent and Business Manager of the District the authority to determine the structure of the Bonds and approve the interest rates, maturity dates, call dates and principal maturities for the Bonds under the terms and conditions set forth herein.
On page 5 you will note that the underwriter information will be inserted following selection later this week, or on Tuesday.
Also attached, for your reivew, is the preliminary offical statement for the issuance.
Administrative Recommendation /MOTION/ I move we approve Resolution 2583 as presented.