- This is a special meeting of the Richland Bean Blossom 2000 School Building Corporation, October 21,
- 2025. So we'll call to order and we'll first do the Pledge of Allegiance. I pledge allegiance to the
- flag of the United States of America and to the republic for which it stands, one nation under God,
- indivisible, with liberty and justice for all.
- Next, we'll have roll call. Randy. Jerry. Jerry Cravens. OK. Do I hear a motion for the approval of
- the minutes of September 16, 2025 School Building Corporation meeting? I guess I first should ask, is
- there any questions? No. I make a motion that we approve the minutes. I hear a second. All those in
- favor? Aye. Aye.
- Next will be the consideration of the resolution of approving the issuance of bonds and financing documents,
- and we'll turn it over to Jacob. Sure, yes. Jacob McClellan with Bose, McKinney, and Evans. So I know
- you all have been through this process before, but this is the final step in the authorization for bonds.
- You guys are the issuer on behalf of the school corporation. This is for bonds not to exceed $40 million.
- There's the list of projects in the resolution.
- The parameters were provided by Stiefel. They're the underwriter of the bonds. This resolution authorizes
- the form of the bond documents. And so if you'll recall, we're issuing under an indenture the trust
- agreement that currently exists. So this authorizes a new supplement for these bonds.
- It authorizes the addendum to the lease that you all executed at the last meeting. Once the bonds are
- priced, the lease payments will be brought down in line with the bond payments, or the lease payments
- get assigned over to the bond trustee to make the bond payments. The, just as a refresher, the resolution
- authorizes multiple series of bonds to allow for flexibility, but I think you,
- May issue most if not all of them at the same time So as far as timing Stiefel has put together an offering
- document You guys have your rating the rating agency kept your rating the same. So that's a good thing
- A rating which is really good. There's only a couple other schools My reason to ask that question is
- kind of fix expect a Federal Reserve to lower rates a couple times before the end of the year and
- This expected that to affect these bonds. So We have we have our timetable with which has anticipated
- Pricing kind of an early November with closing and in toward late November But Stiefel will work with
- Jerry to kind of figure out the best time. I know you guys don't have You're not up against a timing
- crunch to issue and so they usually will
- kind of project off of when those meetings are like, hey, is it better to wait? Is it better to not
- wait? I know there's, and I'm your bond attorney, I'm not a financial advisor, but I know there's usually
- just a glut of bond deals right at, you know, between December 15th and December 30th. So I
- think historically you guys have kind of beat that rush to get a better rate, but I know they'll work
- with Dr. Sanders on that.
- We've used them before, and they do a very good job of monitoring the economic situation, the stock
- market, the interest rates, and then they'll have a schedule of when they want to sell the bonds, but
- if the situation is not the best for us, then they'll pause that until it is. So, yeah. And once we
- price, it'll be like before, we'll put together, we'll fill in the
- the amounts in the closing documents, we'll get those tabbed up, we'll get them to Christine or to Dr.
- Sanders, and there'll be probably three weeks between pricing and closing, so plenty of time to gather
- signatures and all that. So with that, I'd be happy to answer any questions. That's the only question
- I had. Okay. And I'll have a couple things for you to sign, assuming you guys pass this. Okay, cool.
- Okay, now we'll have a vote on consideration of the resolution approving the issuance of the bonds.
- And do I hear a motion? I make a motion that we approve that resolution. I'll second the motion. All
- those in favor? Aye. Carried. With nothing else, meeting adjourned. I make a motion to adjourn the meeting.
- I'm good at making motions. All those in favor? Aye.