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Meeting Date:
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Category:
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Type:
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Subject:
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Discussion, motion, and vote on motion, to approve or disapprove the arbitrage payment and the transfer of funds from the General Fund to the Arbitrage Fund, in the amount of $125,000. N. Eneff |
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Enclosure:
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BAPS 2023 GO Bond Scenario |
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File Attachment:
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Summary:
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Arbitrage rebate liability payments on bonds must first be approved by the Board of Education before payment is issued to the IRS. The district works with Hilltop Securities Asset Management, LLC who provides arbitrage rebate compliance services annually and calculates the amount of arbitrage liability the district may owe. In preparation for a potential payment due in May of 2025, the Arbitrage Fund 88 would need sufficient funding to cover the calculated liability to be accessed. |
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Funding:
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General Fund (11)
Arbitrage Fund (88) |
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Recommendation
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Approvals:
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Recommended By: |
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Signed By: |
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Marsha Janey - Administrative Assistant |
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Signed By: |
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Natalie Eneff - Chief Financial Officer |
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Signed By: |
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Chuck Perry - Superintendent |
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Vote Results:
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| Original Motion | | Member Jerry Denton Moved, Member Brandy Roulet seconded to approve the Original motion 'Approve'. Upon a Roll-Call Vote being taken, the vote was: Aye: 4 Nay: 0. | | The motion Carried 4 - 0 | | | | | Jerry Denton | Yes | | Steve Allen | Yes | | Brandy Roulet | Yes | | Debbie Taylor | Yes | |
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