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Meeting Date:
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9/11/2025 - 6:30 PM
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Category:
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Action
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Type:
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Action
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Subject:
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7.2 Adoption of Resolution Authorizing $128,000,000 Principal Amount of General Obligation Bonds (Missouri Direct Deposit Program), Series 2025, of the Park Hill School District of Platte County, Missouri and Authorizing Certain Other Documents and Actions by the District
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Strategic Plan:
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Enclosure
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File Attachment:
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Provide Background Details and Rationale:
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In April 2025, Park Hill School District voters approved a $128 million bond issue (Proposition O) “to acquire, construct, renovate, improve, furnish, and equip its school facilities, including but not limited to (a) construction, improvement, and renovations to various school buildings, including the Phase 1 replacement of Park Hill High School, stadium and field improvements at Park Hill South High School, and additions to various elementary schools, and (b) the purchase of land.”
A financing plan was developed to (1) meet project cash flow needs in alignment with the sequencing plan, (2) take advantage of favorable interest rates, and (3) anticipate future debt issuance to address Phase II of the Park Hill 2034 10-Year Capital Plan.
On August 21, 2025, the Board of Education approved a "Go To Market" resolution that supports sale of General Obligation Bonds (Series 2025) in the amount up to $128 million.
The bond sale is scheduled for September 23, 2025 at 10:00am.
The bond issue is expected to close on October 7, 2025.
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Provide Funding Source and Estimated Cost:
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Funding Source through New Bond Sale
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Legal References
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Name of Persons(s) Submitting Agenda Item with Title
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Dr. Paul Kelly, Assistant Superintendent for Business & Technology
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Presenter(s) if Presentation Anticipated
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Dr. Mike Kimbrel, Superintendent
Dr. Paul Kelly, Assistant Superintendent for Business & Technology
Representatives from Piper Sandler, the District's Financial Advisor
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Recommendation:
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It is recommended that the Park Hill Board of Education adopt "RESOLUTION AUTHORIZING $128,000,000 PRINCIPAL AMOUNT OF GENERAL OBLIGATION BONDS (MISSOURI DIRECT DEPOSIT PROGRAM), SERIES 2025, OF THE PARK HILL SCHOOL DISTRICT OF PLATTE COUNTY, MISSOURI AND AUTHORIZING CERTAIN OTHER DOCUMENTS AND ACTIONS BY THE DISTRCT", as presented.
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Approvals:
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Recommended By:
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Signed By:
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Dr. Paul Kelly - Assistant Superintendent - Business & Technology
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Signed By:
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Dr. Mike Kimbrel - Superintendent
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Vote Results:
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| Original Motion | | Member Janice Bolin Moved, Member Brandy Woodley seconded to approve the Original motion 'It is recommended that the Park Hill Board of Education adopt "RESOLUTION AUTHORIZING $128,000,000 PRINCIPAL AMOUNT OF GENERAL OBLIGATION BONDS (MISSOURI DIRECT DEPOSIT PROGRAM), SERIES 2025, OF THE PARK HILL SCHOOL DISTRICT OF PLATTE COUNTY, MISSOURI AND AUTHORIZING CERTAIN OTHER DOCUMENTS AND ACTIONS BY THE DISTRCT", as presented.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | Janice Bolin | Yes | | Brandy Woodley | Yes | | Daryl Terwilleger | Yes | | Shereka Barnes | Yes | | Harrison Todd | Yes | |
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