StoryIntent to Refinance School BondsOctober 28, 2026

Roseville School Board Signals Intent to Refinance Bonds Amid Volatile Interest Rates

Board members approved a resolution of intent that positions the district to move quickly on a refunding bond sale — while preserving the option to walk away.

Published Nov 15, 2026

The Roseville Area Schools Board of Education approved a resolution declaring its intent to issue refunding bonds, a procedural step that positions the district to refinance existing debt if market conditions prove favorable in the coming weeks.

Director Sherry Thompson introduced the item, telling board members the resolution was being brought forward now precisely because the bond market has been unpredictable and the district wants to be ready to act.

And we have an opportunity, a potential opportunity coming up to refinance our bonds. And right now, the reason that I'm bringing an intent on a resolution is as all of you know, interest rates are a little volatile right now. So, this just puts us in the position to move forward with a sale if it makes sense.
— Sherry Thompson, Director

The resolution was approved on a 5-0 vote. It does not commit the district to issuing the bonds; rather, it authorizes staff and the district's financial advisors to prepare for a potential sale.

Board retains final say

Several board members sought clarification on what the resolution obligates the district to do. Director Clark explained that the intent resolution functions as a starting gate, with a separate board action required before any refinancing is finalized.

It lets it happen and then your next action is if we decide to move forward because things look favorable, the board's next action is you still have — if the results come back and it's higher than what you thought — the board still has an out. Does that make sense?
— Clark, Director

Other Topics from This Document

Student Achievement and Demographics Review
Read
School and District Gifts
Policy Revisions: Drug-Free Workplace, Drug-Free Schools (Policy 406)
Policy Revisions: Chemical Use and Abuse (Policy 404)
Nutrition Services Employee Contract Approval
Acceptance of Minnesota State High School League Foundation Funds

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Votes (6)

Student Achievement and Graduation Report

No action, report received

Executive Director of Teaching and Learning, Jake Von De Lindy, presented a comprehensive report on student performance in reading, math, and science, utilizing MCA and FastBridge data. The report highlighted district goals, significant demographic shifts, and persistent racial disparities. Discussion covered the transition to new MCA 4 tests, specific areas of growth or decline across grade levels and student groups, and the district's ongoing efforts in structured literacy training (LETTERS, CARRIEL) and cognitively guided instruction (CGI) for math to address these trends.

Policy 406: Drug-Free Workplace, Drug-Free Schools - First Reading

No action, first reading

Associate Superintendent D'Lian Smith presented revisions to Policy 406, driven by new state mandates concerning cannabis, the need for a comprehensive substance abuse education program (including fentanyl), and the formalization of existing event entry alcohol screening practices. The policy was expanded to include specific cannabis products, broaden the definition of school locations, outline violation consequences for various groups, and detail screening procedures to promote student safety. The board discussed how privacy is maintained during screening and the historical rationale for implementing the practice.

Policy 404: Chemical Use and Abuse - First Reading

No action, first reading

Associate Superintendent D'Lian Smith presented revisions to Policy 404, focusing on aligning it with the proposed changes in Policy 406. The updates include referencing the alcohol screening procedures outlined in Policy 406 and introducing a formal definition for 'chemical abuse,' which was previously absent. The board engaged in a discussion regarding the best approach for detailing violation consequences—whether to duplicate the full section from Policy 406 or simply include a clear cross-reference to ensure consistency and ease of future updates. The board leaned towards cross-referencing.

Approval of Nutrition Services Conditions of Employment Contract (2026-2028)

5-0 Approved

Moved by Director Morse-Swett [01:21:44] · Seconded by Unknown [01:21:56]

Executive Director of Human Resources Kinyana McCarty presented the negotiated contract for the Roseville Area Schools Nutrition Services Association for approval. The contract, ratified on October 7, 2026, includes a 2.5% salary increase over both years, additional certification pay levels, a 13% increase in district contributions to insurance benefits in the first year, new language for retired staff as substitutes, an increase in uniform allowance, and improved personal leave provisions. The agreement is within budget and aligns with the district's strategic plan.

Resolution on Intent to Issue Refunding Bonds

5-0 Approved

Moved by Acting Clerk Treasurer Boguszewski [01:26:09] · Seconded by Unknown [01:26:44]

Director Sherry Thompson presented a resolution declaring the district's intent to issue General Obligation School Building and Facilities Maintenance Refunding Bonds Series 2027A, totaling approximately $106.8 million. The purpose is to refinance existing 2017 and 2018 bonds to potentially leverage volatile interest rates for taxpayer savings by reducing the annual levy. The resolution provides the district with flexibility to proceed with a pre-sale without delaying board action, while retaining the option to decline if market rates are unfavorable.

Resolution Supporting Minnesota State High School League Foundation Applications

5-0 Approved

Moved by Unknown [01:28:09] · Seconded by Unknown [01:28:16]

Superintendent Lake recommended adopting a resolution to support Form A and Form B applications to the Minnesota State High School League Foundation. This action enables the district to accept foundation dollars, such as the $11,000 received in the previous year, which are specifically utilized to broaden opportunities for students who qualify for educational benefits.

Notable Quotes (12)

We know that achievement tests are typically a one-time snapshot that don't always provide a great look at individual growth or achievement, especially the MCA tests. However, they do provide us with district trends over time and an overall summary of how well we are meeting the state standards as a system.
— Executive Director of Teaching and Learning Jake Von De Lindy [00:10:46]

Student Achievement and Graduation Report

Roseville Area Schools has more than tripled in our students that qualify for educational benefits. In 2000, we were well below the state and in a quarter century, we are now well above the state.
— Executive Director of Teaching and Learning Jake Von De Lindy [00:13:30]

Student Achievement and Graduation Report

I think the most impactful thing that we're that we are doing right now is is the professional development that we're bringing to our to our teachers. And like that um that's going to have the most significant impact on on our students.
— Executive Director of Teaching and Learning Jake Von De Lindy [00:46:16]

Student Achievement and Graduation Report

The school district will implement a comprehensive education program on cannabis use and substance abuse, including but not limited to the use of fentanyl or mixtures containing fentanyl for students in middle school and high school in accordance with Minnesota statutes section 120B.215 subdivision 1 and subdivision 2.
—

Ordinances & Resolutions (15)

High School Foundation Grant ResolutionResolution

An item recommended for future board consideration, related to Minnesota State High School League.

MCA (Minnesota Comprehensive Assessments)Other

State-mandated achievement tests for reading, math, and science used for district trend analysis.

FastBridgeOther

District-administered growth assessment tests for early reading and math skills.

MCA 4Other

The new version of the reading and science assessment tests, marking a shift in standards and performance levels.

Policy 406Policy

Drug-Free Workplace, Drug-Free Schools policy undergoing first reading for revisions related to cannabis, comprehensive education, and event alcohol screening.

MSBA Model Policy 418Policy

THE ARDEN HILLS RECORDER

Roseville School Board Signals Intent to Refinance Bonds Amid Volatile Interest Rates

Board retains final say

Other Topics from This Document

Student Achievement and Demographics Review

School and District Gifts

Policy Revisions: Drug-Free Workplace, Drug-Free Schools (Policy 406)

Policy Revisions: Chemical Use and Abuse (Policy 404)

Nutrition Services Employee Contract Approval

Acceptance of Minnesota State High School League Foundation Funds

Want to know when new stories arrive?

One of several finance and policy items

Policy first readings

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Votes (6)

Notable Quotes (12)

Ordinances & Resolutions (15)

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