Thu Feb 24 2022, 6:15pm
WHS Library and Zoom
Regular Meeting


Approval of Resolution 22-01 - Bond Refunding

At the January 27th board meeting Financial advisor Mark Prussing presented the opportunity that the board has to refinance the 2012 school construction bonds at a lower interest rate and in doing so potentially saving taxpayers millions of dollars over the next several years.  A necessary next step is for the board to approve Resolution 22-01:

"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 unlimited tax general obligation bonds of the District in the aggregate principal amount of not to exceed $22,000,000 for the purpose of providing funds necessary to refund certain outstanding unlimited tax general obligation bonds of the District; authorizing the District to submit a request for eligibility for the Washington State School District Credit Enhancement Program; providing for the redemption of the outstanding bonds to be refunded; providing for unlimited tax levies to pay the principal thereof and interest thereon; delegating to the Superintendent and Executive Director of Business Services of the District the authority to determine the structure and terms of the Bonds within the parameters set forth herein; and approving other matters related thereto."

Bond attorney, Faith Pettis will be joining the board meeting via Zoom to discuss the resolution and answer any questions of the board prior to adoption.

Administrative Recommendation /MOTION/ I move we adopt Resolution 22-01 as presented"

Attached Files:
Resolution 22-01--UTGO Ref Bonds 2022 (1).pdf application/pdf 321.9K