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Board OKs bond sale Tuesday

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Bond election is scheduled for 2012

By Jennifer Garcia

Tuesday night the Los Alamos Public Schools Board met for the first time since the 2010-11 school year ended in May.

The members discussed a mixed bag of topics, including high school, middle school and Aspen Elementary construction updates, a change in the schedule of fees for long-term rentals; a bond sale resolution, monthly status reports, a journal entry report for May, a first and second reading of policies and updates on the district’s new headquarters at 2075 Trinity Dr., as well as an update on the status of negotiations with the developer on the Trinity Site Development at 751 Trinity Dr.

Most of the action taken during the meeting involved approval of the agenda, minutes, budget adjustment requests and ratification of May cash disbursements. The board also approved the bond sale resolution presented to them.

Kevin Powers of RBC Capital Markets in Albuquerque, and Duane Brown, the district’s bond attorney with Modrall, Sperling law firm, presented the board with details regarding the bond sale.

Powers said that as of June 14, the district has $35 million in outstanding debt. He went over the district’s history of bond sales, citing a successful election in January 2009, during which the district was authorized to sell $40 million in bonds, with a tax increase of approximately $5.50.


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