The School Board has approved a bond resolution, giving Superintendent Tom Lawrence the go-ahead to get the ball rolling on the sale of bonds approved by voters last year.

The resolution broke down the sale into two phases that divide the voter-approved $8 million into two sales of $4 million over the next two years.

The governing board met in a study session following its regular meeting Jan. 22 to discuss bond sales and go over the progress of the bond oversight committee.

Stifel, Nicolaus & Company has been tapped to help plan and carry out the bond sales and, at the study session, Managing Director Bob Casillas presented the board with their progress.

Casillas explained that the current plan is to sell the bonds in two groups including Series A (March 2014) and Series B (March 2015). Each sale would equate to $4 million, combining to make up the total bond value of $8 million.

The board elected to approve the first sales (Series A) at the Feb. 12 meeting, and will need to vote again on Series B come next spring.

FHUSD will be able to start spending bond monies on projects after March 10 if the current schedule is maintained.

The board stated a strong interest in making sales available to Fountain Hills parties first. An advertisement for those sales can be found in this edition of The Times.

FHUSD aims to market and underwrite bonds and execute a bond purchase agreement with March 10 serving as the estimated date to close on the bond issue.