The school board held a special combined committee meeting Aug. 11, the first of the 2025-26 school year, addressing contract agreements with participating universities providing student teachers, curriculum and service agreements, a healthy food program, and specialized provider agreements.

A presentation by PFM Financial Advisors LLC. Managing Director Scott Sharer provided the board with a summary of Floating Rate Notes as per the board’s Request For Proposal. This report started with a municipal market update. General Obligation Debt Overview shows the district currently having just over $204 million total principal outstanding debt, almost $174 million in fixed rate bonds and $30 million in variable rate bonds with fixed payer swaps. The district is mandated to remarket the FRN before Nov. 1, the mandatory tender date.

Sharer provided information on fixed rate bond options and variable rate swap options. The best RFP fixed rate option was submitted by Raymond James and the RFP variable rate option was submitted by Wells Fargo. The mandatory tender date for the new bonds would be 2031 fiscal year.

Although no decision was made and nothing was finalized, the board is favoring the fixed rate option. The next meeting was scheduled for Aug. 25.