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Board hears update on bond financing plan, market conditions and next steps for voter-approved projects
Summary
Bradley Payne Municipal Advisors presented market context and a plan to convert $24 million in bond anticipation notes to long-term bonds while keeping $18 million short-term to preserve the district’s 7-mill pledge to taxpayers; board discussed timing and use restrictions for proceeds.
Bradley Payne Municipal Advisors updated the Kings Local School District board on the status of financing for the voter-approved $142 million facilities program and described recommended steps for the next financing round.
Andy Brossart of Bradley Payne summarized market conditions, noted the district previously issued $124 million of the voter-approved $142 million, and said the financing plan is to issue fixed-rate bonds to replace $24 million in bond anticipation notes that mature this July while keeping the remaining $18 million short-term for now to preserve the district’s millage commitment.
Nut graf: The district’s stated objective is to honor the…
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