STCS - Energy Conservation Improvement Bond

[Shadowninja]

🪶 LADY BUDGETDOWN | SAGINAW TOWNSHIP COMMUNITY SCHOOLS

A $4.08 Million Bond You Didn't Vote On. So What Is It?

Most of the community's attention this spring was understandably focused on Saginaw Township Community Schools' $94.235 million bond proposal that appeared on the May ballot.

But STCS was also moving forward with a separate financing:

$4,080,000 in 2026 Energy Conservation Improvement Bonds. And unlike the May bond proposal, these bonds did not require voter approval.

That doesn't mean anything improper occurred. Michigan law provides school districts with mechanisms to finance certain energy-conservation improvements without placing the borrowing before voters.

But it does mean there's another piece of STCS's long-term financial picture worth understanding.

What happened?

On May 11, 2026, an official Notice of Sale was published in The Bond Buyer offering $4.08 million in Energy Conservation Improvement Bonds for sale.

The bonds were designated:

General Obligation - Limited Tax

Competitive bids were scheduled for May 19.

Then, at a June 8, 2026 Special Meeting, the STCS Board of Education unanimously approved a resolution accepting the offer of BOK Financial Securities, Inc. to purchase the bonds.

The financing is associated with energy-conservation improvements in the district, with projected energy savings incorporated into the overall project.

How long will STCS be paying the principal?

According to the published Notice of Sale, principal maturities extend from 2028 through 2046.

Some examples from the published schedule:

2028 - $100,000
2029 - $40,000
2030 - $55,000
Later in the schedule:
2044 - $400,000
2045 - $445,000
2046 - $485,000

Interest payments were scheduled to begin in November 2026 and continue semiannually.

So what will the $4.08 million ultimately cost?

That's the question Lady Budgetdown can't answer yet.

The Notice of Sale gives us the principal amount and proposed maturity schedule. The June 8 board minutes identify BOK Financial Securities as the purchaser.

But Lady Budgetdown has not yet located the final bond documents showing the final interest rates and complete debt-service schedule.

And we're not going to guess.

Once those records are located, we'll update this and calculate the total repayment from the actual documents.

The question for now:

Did you know STCS issued a separate $4.08 million Energy Conservation Improvement Bond in 2026, and that its principal repayment schedule extends through 2046?

No conclusion required.

It's simply another part of the district's finances that taxpayers should be able to see, understand, and consider for themselves.

With receipts and respect.

Data compiled and visualized by Lady Budgetdown using publicly available records.

Sources:
• STCS Board of Education, Special Meeting Minutes — June 8, 2026
• Official Notice of Sale, STCS 2026 Energy Conservation Improvement Bonds — The Bond Buyer, May 11, 2026