WEBVTT 00:00:00.290 --> 00:00:08.420 - This is a special meeting of the Richland Bean Blossom 2000 School Building Corporation, October 21, 00:00:08.420 --> 00:00:16.550 - 2025. So we'll call to order and we'll first do the Pledge of Allegiance. I pledge allegiance to the 00:00:16.550 --> 00:00:24.599 - flag of the United States of America and to the republic for which it stands, one nation under God, 00:00:24.599 --> 00:00:28.382 - indivisible, with liberty and justice for all. 00:00:32.066 --> 00:00:41.053 - Next, we'll have roll call. Randy. Jerry. Jerry Cravens. OK. Do I hear a motion for the approval of 00:00:41.053 --> 00:00:50.219 - the minutes of September 16, 2025 School Building Corporation meeting? I guess I first should ask, is 00:00:50.219 --> 00:00:59.206 - there any questions? No. I make a motion that we approve the minutes. I hear a second. All those in 00:00:59.206 --> 00:01:00.734 - favor? Aye. Aye. 00:01:03.746 --> 00:01:09.958 - Next will be the consideration of the resolution of approving the issuance of bonds and financing documents, 00:01:09.958 --> 00:01:15.772 - and we'll turn it over to Jacob. Sure, yes. Jacob McClellan with Bose, McKinney, and Evans. So I know 00:01:15.772 --> 00:01:21.813 - you all have been through this process before, but this is the final step in the authorization for bonds. 00:01:21.813 --> 00:01:27.854 - You guys are the issuer on behalf of the school corporation. This is for bonds not to exceed $40 million. 00:01:27.854 --> 00:01:30.590 - There's the list of projects in the resolution. 00:01:30.690 --> 00:01:37.380 - The parameters were provided by Stiefel. They're the underwriter of the bonds. This resolution authorizes 00:01:37.380 --> 00:01:43.691 - the form of the bond documents. And so if you'll recall, we're issuing under an indenture the trust 00:01:43.691 --> 00:01:49.118 - agreement that currently exists. So this authorizes a new supplement for these bonds. 00:01:49.250 --> 00:01:55.878 - It authorizes the addendum to the lease that you all executed at the last meeting. Once the bonds are 00:01:55.878 --> 00:02:02.505 - priced, the lease payments will be brought down in line with the bond payments, or the lease payments 00:02:02.505 --> 00:02:09.393 - get assigned over to the bond trustee to make the bond payments. The, just as a refresher, the resolution 00:02:09.393 --> 00:02:14.526 - authorizes multiple series of bonds to allow for flexibility, but I think you, 00:02:15.522 --> 00:02:23.318 - May issue most if not all of them at the same time So as far as timing Stiefel has put together an offering 00:02:23.318 --> 00:02:30.753 - document You guys have your rating the rating agency kept your rating the same. So that's a good thing 00:02:30.753 --> 00:02:38.044 - A rating which is really good. There's only a couple other schools My reason to ask that question is 00:02:38.044 --> 00:02:45.118 - kind of fix expect a Federal Reserve to lower rates a couple times before the end of the year and 00:02:45.314 --> 00:02:52.209 - This expected that to affect these bonds. So We have we have our timetable with which has anticipated 00:02:52.209 --> 00:02:59.103 - Pricing kind of an early November with closing and in toward late November But Stiefel will work with 00:02:59.103 --> 00:03:05.931 - Jerry to kind of figure out the best time. I know you guys don't have You're not up against a timing 00:03:05.931 --> 00:03:08.702 - crunch to issue and so they usually will 00:03:08.834 --> 00:03:14.302 - kind of project off of when those meetings are like, hey, is it better to wait? Is it better to not 00:03:14.302 --> 00:03:20.097 - wait? I know there's, and I'm your bond attorney, I'm not a financial advisor, but I know there's usually 00:03:20.097 --> 00:03:25.127 - just a glut of bond deals right at, you know, between December 15th and December 30th. So I 00:03:25.127 --> 00:03:30.704 - think historically you guys have kind of beat that rush to get a better rate, but I know they'll work 00:03:30.704 --> 00:03:32.126 - with Dr. Sanders on that. 00:03:32.290 --> 00:03:40.276 - We've used them before, and they do a very good job of monitoring the economic situation, the stock 00:03:40.276 --> 00:03:48.422 - market, the interest rates, and then they'll have a schedule of when they want to sell the bonds, but 00:03:48.422 --> 00:03:56.407 - if the situation is not the best for us, then they'll pause that until it is. So, yeah. And once we 00:03:56.407 --> 00:04:01.758 - price, it'll be like before, we'll put together, we'll fill in the 00:04:02.242 --> 00:04:07.596 - the amounts in the closing documents, we'll get those tabbed up, we'll get them to Christine or to Dr. 00:04:07.596 --> 00:04:12.951 - Sanders, and there'll be probably three weeks between pricing and closing, so plenty of time to gather 00:04:12.951 --> 00:04:18.253 - signatures and all that. So with that, I'd be happy to answer any questions. That's the only question 00:04:18.253 --> 00:04:23.504 - I had. Okay. And I'll have a couple things for you to sign, assuming you guys pass this. Okay, cool. 00:04:23.504 --> 00:04:28.702 - Okay, now we'll have a vote on consideration of the resolution approving the issuance of the bonds. 00:04:29.026 --> 00:04:38.030 - And do I hear a motion? I make a motion that we approve that resolution. I'll second the motion. All 00:04:38.030 --> 00:04:47.657 - those in favor? Aye. Carried. With nothing else, meeting adjourned. I make a motion to adjourn the meeting. 00:04:47.657 --> 00:04:52.382 - I'm good at making motions. All those in favor? Aye.