 First meeting: January  Attendees: › Local bank representation › Local business representation › Bond Agent Representative › Board of Education › District Personnel  Topics: › Sale of bonds › Distribution of bonds › Investment of proceeds

 School and library program of the Universal Service Fund providing discounted telecommunications, internet access and internal connections to eligible schools  Current revenue from this program is about $86K per year.  Changes starting in 2014/15 affecting the 2015/16 revenue stream  Shift of focus from voice to internet

› Phones (cell and VOIP) – reduction of 20% per year until gone › Web hosting – gone › Covers startup costs and one time expenses  Revenue impacts: › $34K in 2015/16, $12K 2016/17; $11K 2017/18  New opportunities: › Potential revenue stream from SHS

 Rating of AA- maintained › Credit rating identifying risk of an investment  AAA and AA: High credit-quality investment grade  AA and BBB: Medium credit-quality investment grade  BB, B, CCC, CC, C: Low credit-quality (non- investment grade), or "junk bonds"  D: Bonds in default for non-payment of principal and/or interest  Sale of $20M bonds, at 3.88%  Advertised February 22, all bonds sold by 25th  Remaining $9.2M of bond referendum to be sold at later date