Action of the School Board Action of the School Board 09/26/16 | Page 3

If approved as presented, the preliminary levy represents an overall reduction in the tax levy.

Approve sale of Other Post Retirement Benefits (OPEB) refunding bonds 2016A

Michelle Vargas, chief financial officer, and financial advisor Springsted, presented the results of a bond refinancing bid process awarded to BOK Financial Securities at a true interest rate of 2.2456 percent. The action
provides an estimated annual savings of $237,000 or $2.9 million over the life of the bond. The refunded bonds
replace the former bonds that were originally awarded at a 5.5 percent true interest rate. The resolution was
approved on a unanimous vote.

Consent agenda

The School Board approved all items:
a.
b.

c.
d.
e.
f.
g.
h.
i.
j.
k.

Minutes from Sept. 12, 2016, meeting.
Retirements, resignations, terminations, layoffs and recalls, leaves and modified leaves of absence,
extra service agreements, curriculum writing.
Cash dispersements report.
Cash balance report.
Donations and scholarship reports.
Immunizations exclusions.
Bethel University – Anoka High School lease agreement
Coon Rapids Ice Arena agreement
Health reimbursement arrangement for active employees - addendum.
Increase capitalization factor to federal $5,000 level.
Driver’s education vehicles.

Next meeting: School Board work session, Mon., Oct. 10 at 5:30 p.m., Educational Service Center, 2727 N Ferry
St., Anoka.

Complete minutes
Complete minutes of the meeting are published on the district’s website and in the district’s legal newspapers: Anoka County Union, Blaine
Life, Brooklyn Center Sun-Post, Brooklyn Park Sun-Post, Press & News: Champlin, Dayton and Coon Rapids Herald.
Document published by communication and public relations
For information, contact Jim Skelly, director of communication and public relations, at 763-506-1111.
Alternate format
This document will be provided in an alternate format upon request in order to accommodate individuals with disabilities. A minimum of
three days notice is needed. Please call 763-433-4680 to request an alternate format.

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