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LRSD board approves $76.73 million bond sale; roughly $75 million to capital projects
Summary
The Little Rock School District Board approved a resolution authorizing the issuance and delivery of bonds following a competitive sale; staff said the district will receive roughly $75 million in project funds after fees and discounts.
The Little Rock School District Board on Oct. 16 approved a resolution authorizing the issuance and delivery of bonds after a competitive sale that produced a winning bid from BofA Securities.
Mister Trumper, representing the district’s financing team, told the board the bonds were sold for a par amount and that closing is scheduled for Nov. 18. "Yesterday, we sold your all's bonds, 76,730,000 with our goal to net 75,000,000 project funds," he said, and staff provided a sources‑and‑uses breakdown showing underwriter fees, municipal advisory fees, bond counsel and rating agency fees deducted from the sale proceeds.
Mr. Trumper…
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