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District sells $13.775M in capital loan notes; negotiates underwriting to cut fees and yields
Summary
The district approved a resolution authorizing $15 million capital loan notes sale against pebble funds for college-and-career projects; negotiated sale produced $13.775 million par with $1.224M premium, effective yield 3.3655% and district cost 3.576%, saving approximately $45,000 in underwriting fees.
The Cedar Rapids Board approved a resolution authorizing the issuance of general obligation school capital loan notes to fund college-and-career readiness projects at Washington and Jefferson after finance staff described a negotiated bond sale that lowered underwriting costs.
Carla (district…
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