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.