10-25-2016 Board Workshop - District Debt (Bonds 101)

The School Board of Brevard County, Florida for a Board Workshop on Tuesday, October 25, 2016, at the Educational Services Facility, 2700 Judge Fran Jamieson Way, Viera, Florida. Notice of the meeting was advertised in the Eagle newspaper on Thursday, October 13, 2016. The affidavit of publication with a copy of the ad attached is filed in the Affidavit File in the Board Office.

Opening Exercises
1. Opening Exercises

Minutes: Chairman Andy Ziegler called the workshop to order at: 2:01 p.m.

Roll Call
2. Roll Call


Members Present:  Misty Belford, John Craig, Andy Ziegler, Karen Henderson, and Amy Kneessy

Amy Kneessy arrived at 2:09 p.m. due to unforeseen circumstances.

Pledge of Allegiance
3. Pledge of Allegiance

Minutes: Chairman Ziegler led the Pledge of Allegiance.

Order of Business
4. District Debt
Attachment: Debt Workshop Presentation.pdf

Pennie Zuercher, Chief Financial Officer, gave an outline of how the presentation would run. She introduced bond attorneys, George Smith and Judson Freeman, as well as financial advisor Mitch Owens.

Mr. Smith gave some details of school district indebtedness and spoke about the types of debt for educational facilities.

Mr. Owens talked about the types of financing.

Mrs. Zuercher addressed the schedules and the options available to the District.

More discussion and questions from the Board ensued.

As interest reates are believed to increase in December, Mrs. Zuercher asked for Board consensus whether or not to bring forth a refunding option of the 2007 A Certificate for consent at the November 22, 2016 Board meeting.

The Board provided consensus to move forward.  They also asked to see the debt payment schedule incorporated into the capital allocation plan.

Closing Remarks
5. Closing Remarks.

Minutes: Chairman Ziegler thanked everyone for attending.

6. Adjournment

Minutes: Chairman Ziegler adjourned the meeting at: 3:20 p.m.

For further details pertaining to this meeting, please refer to the published video on the School Board of Brevard County's website (www.brevardschools.org).