Board approves $1.1M bond issuance for building improvements

The Roland Public Schools Board of Education held a special meeting at 5:30 p.m. on February 10, where several significant financial decisions were made regarding the district’s infrastructure and compliance measures.

The board first reviewed and adopted new written policies and procedures for post-issuance tax compliance for tax-exempt bonds, ensuring the district stays compliant with federal regulations. This decision was unanimously approved, with the new procedures taking effect immediately.

Following this, board members discussed the district’s continuing disclosure obligations, ensuring the community and stakeholders are kept informed about the district’s financial status.

A major focus of the meeting was the awarding of bids for the district’s $1,095,000 General Obligation Building Bonds. After reviewing proposals, the board voted to accept the bid from Firstar Bank Roland branch, in association with The Baker Group. The bid, offering an average interest rate of 4.648604%, included a net interest cost of $127,371.76.

Finally, the board passed a resolution to formally issue the General Obligation Building Bonds, which will fund various improvement projects across the district. This issuance was approved following the election that authorized the bonds.

The meeting concluded at 5:36 PM with all motions passing unanimously, signaling continued efforts to enhance Roland Public Schools’ facilities and uphold financial responsibility.

This news story is based on the unofficial minutes from the board meeting and could be in error if the minutes are changed prior to adoption.