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Superintendent outlines bond-sale plan, GMP timing and special-building fund for high school project
Summary
District staff told the board they plan a larger bond sale in January for about $55 million, are delaying a smaller bank-qualified sale, and will wait to finalize a guaranteed maximum price until designers and contractors complete cost estimates.
Superintendent Matt Loom told the board the district's building-finance advisers now recommend two larger bond sales rather than an earlier, smaller bank-qualified sale. The district expects to seek roughly $55 million in a mid-January sale, with proceeds expected to post around Feb. 1.
Loom said the finance committee concluded a bank-qualified sale would not yield sufficient interest savings and that delaying a larger sale could let the district capture potential federal…
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