The Pittsburg City Commission on Nov. 12 approved Ordinance S1112, authorizing the city to issue taxable industrial revenue bonds, series 2025, for the Washington School project in an aggregate principal amount not to exceed $6,000,000. The vote followed a presentation from bond counsel JT Klaus and a short question period by commissioners.

Klaus, bond counsel with the law firm Spencer Vane, described the financing as conduit industrial revenue bonds: the Washington School will site‑lease the property to the city and lease the improved facility back to the school, with lease payments structured to equal bond principal and interest. "This is considered a conduit financing," Klaus said, adding that "the city's not obligated to pay it. If there's a default, only Washington School is obligated to pay the principal and interest on the bonds." He told commissioners a payment‑in‑lieu‑of‑tax provision was removed from the ordinance in final review.

Klaus said the project was approved previously in related actions, including a March 2023 property tax abatement and cost‑benefit analysis. He described the abatement approved for this project as "a 100% tax abatement for 10 years," but he added that some taxes that state law exempts from abatement — such as school district capital outlay mill levies — still apply.

Commissioners moved and seconded approval; the motion carried on a voice vote. Following the vote Mayor Don McNay announced a Washington School ribbon cutting scheduled for 9 a.m. the next day.

The ordinance authorizes execution of bond documents necessary to issue the series 2025 bonds and to pay related issuance costs. Bond counsel told the commission the bonds will be a special‑revenue obligation of the borrower and the city’s role is to provide the financing conduit and the related approvals already contemplated in earlier incentive decisions.

Next steps: bond closing, issuance, and the administrative steps to implement the lease arrangements. Counsel said the only likely future city appearance related to the project would be at retirement of the bonds or termination of the site lease, which typically appears as a consent‑agenda item when it occurs.

Provenance: City presentation and Q&A during the Nov. 12 meeting; JT Klaus, bond counsel, presented the ordinance and answered commissioner questions.