Note: Recordings and documents for agenda items can be accessed via BoardDocs by clicking on the corresponding agenda items.
The Board of Education unanimously adopted a resolution authorizing the issuance and sale of up to $80,005,000 in general obligation bonds to help fund Canyons’ current construction projects. That includes he total rebuilds of Brighton and Hillcrest high schools, the renovation of Alta High, and the reconstruction of Midvalley Elementary. Some of the funds from this issuance also would pay for the architect costs for the upcoming rebuild of Union Middle, expected to begin in 2021. The resolution calls for a maximum payback term of 21 years at a 5 percent interest rate. The approved resolution is among the first steps in the process to obtain the funding. After the Winter Recess, two rating agencies will review the bond-sale proposal. At that point, according to the proposed timeline, the bonds would be released to the market in late January with an expected sale the first week of February. A closing could be scheduled for late February. The public gave approval to the District in November 2017 to issue bonds up to $283 million to pay for new and renovated schools throughout the District.
External Affairs Director Charlie Evans updated the Board of Education on education-related issues that are expected for the 2020 General Session of the Utah Legislature. Among the topics discussed included the legislature’s special-session focus on tax reform. The Board also noted the possible impacts to the Education Fund, the amount set aside to fund Utah’s public schools. The Utah State Constitution guarantees public-education funding from the state’s income tax.
Update on Roundtable Items
The Board of Education reviewed action items that had been requested of the Administration in the summer Roundtable Discussion and proposed new items for review.
The Board of Education approved the Consent Agenda, which includes minutes from the Board meeting on Dec. 3, 2019; hire and termination reports; purchasing bids; student overnight travel requests; November financial reports; and TSSP amendments for Butler and Eastmont middle schools and Diamond Ridge High School.