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Clarkston board approves 2025 bond sale after advisers report strong demand and favorable pricing
Summary
The Clarkston Community School District Board of Education approved a resolution authorizing the issuance and sale of its 2025 bond series; financial advisers reported an A1 rating, heavy investor demand and estimated extra project funds compared with the ballot estimate.
The Clarkston Community School District Board of Education on Aug. 11 approved a resolution authorizing the issuance and sale of the district's 2025 bond series 2, after financial advisers described strong investor demand and slightly better-than-expected interest rates.
The vote, taken by roll call, carried with all members recorded as voting yes. The action delegates sale authority and final pricing to the district's advisers and underwriter.
Why it matters: the sale affects how the district will fund construction and capital projects from the 2019 voter authorization. Presenters told the board the combination of sale proceeds and investment earnings could yield more funds for projects than originally estimated when the ballot was prepared.
In a presentation, RJ Naughton of PFM, the district's financial…
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