Finance staff reviewed financing scenarios for the first construction draw of the high‑school project and the committee confirmed earlier consensus to borrow $10 million in calendar year 2025.

The administration presented three options for 2025 draws: do not borrow, borrow $15 million, or borrow $10 million. Staff said the $10 million scenario was the most financially advantageous of the three. The committee noted a parameters resolution on the work session that sets a borrowing ceiling of $15 million; staff said that ceiling does not require borrowing the full amount and that the $10 million target will guide financing advisors and the ratings call with Moody’s scheduled for Feb. 19.

Why it matters: Administration advised that a bank‑qualified bond (under $10 million) typically yields preferential rates and that timing of draws and phasing affect interest cost. Committee members indicated support for the $10 million plan and asked the administration to proceed with documents, the ratings call and lender outreach; no final bond sale occurred at the committee meeting.

Ending: Staff will proceed with standard financing steps, present final parameters at the action meeting and return to the committee with firm borrowing terms before closing.