The board’s approval of the bond sale to Raymond James, a financial services company based in Florida, was the meeting’s focal point. The bonds, originally issued in 2018, were refunded to take advantage of a more favorable interest rate of 2.7%, down from an anticipated 3.24%. The refunding process netted the district substantial savings, with the inclusion of $1 million from the debt service fund contributing to a total savings of approximately $1.23 million for the fiscal year 2028 maturity. This move exemplifies the district’s strategy to manage its finances prudently while lowering its debt obligations.

Following the bond discussion, a presentation on the truth and taxation process provided insights into the district’s current financial landscape and proposed tax levy. The levy is set to increase by 4.7%, with the general fund, community service, and debt service seeing respective increases of 1.5%, 3.5%, and 7.6%. The presentation clarified that changes in tax payments can largely result from variations in local property market values rather than direct district-imposed increases. A notable point was the comparison of tax rates for similarly valued properties in comparable districts, positioning Brainerd in the middle range.