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At hearing, OPS officials seek ability to issue bonds to fund pension plan
By Martha Stoddard
LINCOLN — Omaha Public Schools officials say the district could come out better financially — and make the pension plan healthier — by issuing between $219 million and $252 million worth of bonds.
Toward that end, they and their supporters on Wednesday urged the Nebraska Retirement Systems Committee to advance a proposal authorizing a new type of bond, called “pension obligation bonds.”
OPS board member Lou Ann Goding said the bonds would be paid off as part of the district’s general fund budget and without raising property taxes.
“They would be paid for through budget cuts, not additional revenue,” she said. “This would basically be a restructuring of long-term debt.”
FULL story: http://www.omaha.com/news/legislature/at-hearing-ops-officials-seek-ability-to-issue-bonds-to/article_e8a4f0ed-b67e-5559-8e63-b08b38f29383.html