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Committee reviews plan to issue up to $52 million in bonds to fund Clifton Heights project
Summary
The Finance and Operations Committee reviewed a plan for a 2025 bond issuance to fund construction at Clifton Heights Middle School, targeting about $47 million with a $52 million maximum parameters resolution to be considered by the full board on March 11.
The Finance and Operations Committee reviewed a plan to issue bonds in 2025 to help fund construction at Clifton Heights Middle School and possible exploration and design for a new elementary school. Mr. Rogers, a district staff member presenting the update, said the district is targeting roughly $47,000,000 in new borrowing and will ask the board to approve a maximum parameters resolution authorizing up to $52,000,000.
The resolution authorizes the financing team to proceed within set limits and gives the district flexibility in final pricing and structure. “The max parameters resolution allows the finance team to proceed as long as certain parameters are met,” Mr. Rogers said. He…
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