Wayzata Schools approves $100M bond sale, explores student board seats
The Wayzata Public Schools board unanimously approved a $100 million bond sale on August 11 and voted 5-1 to explore adding student representatives to the board, marking two significant decisions about the district's finances and governance.
The board's unanimous approval of General Obligation School Building Bonds, Series 2026B represents a major financial milestone for the district. The $100 million sale will deposit over $101 million into the construction fund to begin projects authorized by voters in an April referendum. Executive Director Trevor Peterson reported that the district maintained its AAA credit rating from Moody's Investor Service, securing a favorable interest rate of 4.21%—20 basis points lower than pre-sale estimates. This strong credit rating directly benefits students by reducing borrowing costs. "Having a triple bond AA bond rating allows us to get better interest rates as we see today... and inevitably for our students," board member Paris Bendy said. The district anticipates additional bond sales in 2028, 2029, and 2030.
In a more contentious vote, the board approved a resolution to explore establishing student representatives on the school board, with board member Heidi Kedar dissenting. Multiple students testified about the importance of having their voices heard in policy decisions. "Students experience school every day. So, we might sometimes see things differently than adults do," said student Soh Maradkar. Another student, Jaden Joseph, emphasized that student representation "adds the one perspective that exists only on the other side of the policy, the perspective of a student." A former student representative from another district testified about successfully influencing board decisions.
Kedar proposed an amendment to broaden the language to "increased student voice and representation" and remove explicit mention of an "ad hoc committee," but it failed 2-4. The original motion then passed, directing an ad hoc committee to work with administration to develop a proposed policy and implementation framework. Over 135 Minnesota school districts already have student representatives, according to testimony. MSBA Director Milan Sahony supported the initiative, stating: "Students are our biggest stakeholders, right? And so if we are not listening to students... then we are not really listening to the stakeholders."
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Votes (2)
Resolution Authorizing Issuance and Awarding Sale of General Obligation School Building Bonds, Series 2026B
Dissent: None
Moved by Unknown [1:00:23] · Seconded by Unknown [1:00:24]
Executive Director Trevor Peterson and municipal adviser Matthew Hammer reported the successful competitive sale of $100 million in General Obligation School Building Bonds, Series 2026B. The district maintained its AAA credit rating from Moody's Investor Service, securing a favorable true interest cost of 4.21%, which was 20 basis points under the pre-sale estimate. This sale will deposit over $101 million into the construction fund, initiating the first phase of projects authorized by the April referendum. Discussion included explanations of financial terms and the significance of the district's strong credit profile, with future sales anticipated in 2028, 2029, and 2030.
Resolution to Explore Establishment of Student Representatives on the School Board
Dissent: Heidi Kedar
Moved by Paris Bendy [1:02:49] · Seconded by Unknown [1:02:50]
The board considered a proposal to explore establishing student representatives. Multiple students and a parent testified, advocating for student representation to ensure students' unique perspectives are heard in policy-making, foster civic engagement, and align with practices in over 135 other Minnesota districts. A motion was made to direct an ad hoc committee, in collaboration with administration, to develop a proposed policy and implementation framework. An amendment proposed by Director Kedar to broaden the language to 'increased student voice and representation' and remove explicit mention of an 'ad hoc committee' failed by a 2-4 vote. The original motion then passed, indicating the board's intent to proceed with formal exploration of student representatives.
Notable Quotes (9)
we are once again thrilled to report that our district has maintained our AAA credit rating status.
We ended up receiving a true interest cost this morning of 4.21% so 20 basis points under and we were carrying an average interest rate during the pre-election estimates of 4.75.
Having a triple bond aa bond rating allows us to get better interest rates as we see today... and inevitably for our students.
students experience school every day. So, we might sometimes see things differently than the than adults do.
A student representative doesn't replace or take any take away any of that. Rather, it adds the one perspective that that exists only on the other side of the policy, the perspective of a student.
it is imperative that voices feel heard in such a large community in a district as large and as powerful as Weisetta does and that the council is advised from a student perspective rather than just adults and administrators who see from the outside rather than experiencing impacts themselves.
me and my other schoolboard representative were actually able to give input and sometimes change the minds of the people on the school board.
students are our biggest stakeholders, right? And so if we are not listening to the student students as far as what they would like what they their difficulties are what they're going through then we are not really listening to the stakeholders.
It is never my desire to kick the can down the road. I'm not that girl... I believe very firmly in doing work intentionally and thoughtfully and strategically.
Ordinances & Resolutions (4)
State law encouraging school boards to include student representation.
Financial instrument authorized for issuance and sale by the school board.
A proposed amendment to update how annual distributions from Minnesota's Permanent School Fund are calculated.
Mentioned as a source of an editorial by MSBA President Christy Peterson on student representation.
Source document
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Other Topics from This Document
Superintendent's Transition Update
MSBA Director's Report on Permanent School Fund and Minnesota Kids Rise
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