Octara School Board approves $17.5M bond purchase agreement with Raymond James

The Octorara Area School Board convened on February 12, 2025, to discuss key financial decisions impacting the district's future. A significant highlight of the meeting was the board's approval of a bond purchase agreement with Raymond James and Associates Inc., amounting to $17.5 million, aimed at funding essential capital projects within the school district.

The bond agreement is expected to provide the necessary financial resources for various improvements and upgrades across Octorara schools. During the discussion, it was noted that the bond's interest rate could be locked in at a favorable 4.09%, contingent upon the approval of the agreement. This rate is seen as advantageous, especially in the current economic climate where interest rates can fluctuate significantly.

One board member, who has a professional relationship with Raymond James, abstained from the vote to maintain transparency and avoid any conflicts of interest. Despite this, the motion passed unanimously, reflecting the board's commitment to advancing the district's infrastructure and educational facilities.

The meeting concluded promptly after the vote, with no public comments from visitors, indicating a focused agenda centered on the financial health of the school district. The approval of the bond is a crucial step toward enhancing the educational environment for students in the Octorara community, aligning with broader goals of improving school facilities and resources.