Board Agenda - January 17, 2006

1. Proposed Bond Sale, February 21, 2006

Presenter: Richard Matkin

Purpose: C - Discussion and input - final decision at subsequent meeting

Time: 10 minutes

Description:

The second bond sale in the amount of $70,975,000, from the 2004 bond authorization is scheduled to be held on Tuesday, February 21, 2006. David Medanich, the District's Financial Advisor with First Southwest Company, will be present at the January board meeting to discuss preliminary information leading up to the actual bond sale in February. Mr. Medanich will provide information on changes made by the Legislature to the Permanent School Fund Guarantee application process. He will present an overview of the competitive bidding process for the bond sale and provide projected rate information based on the expected number of bidders. As with every bond sale, the rating agencies will review the District's most recent Comprehensive Annual Financial Report and interview staff in the Business Services Department as to fiscal year-end projections for the end of the current fiscal year and the outlook for the 2006-07 budget and financial position of the District. The District has a strong underlying AA, and Aa2 rating with a stable outlook rating from Standard & Poor's and Moody's respectively. No changes in these ratings are anticipated.

Recommendation:

Business Impact:

To be determined by the rates received from the competitive bid bond sale process on February 21, 2006.

Summary:

Appendix:

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