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Board hears financing plan for $40 million to finish high school renovation, $13.1M expected from cash reserve
Summary
District financial advisors reviewed the renovation funding plan, saying a $40 million borrowing is planned to finish the project, the district expects to use about $13.1 million from cash reserve to finish construction and aims to enter the market in mid-May with funds available in mid-June.
At the Pleasant Valley School District board meeting on April 22, the district's financial presenter reviewed the plan to finish the high school renovation and outlined a proposed $40 million borrowing to complete the work.
The presenter said the district has already borrowed in earlier tranches and invested prior proceeds, earning roughly $1.6 million in interest on a previously borrowed $30 million. The plan presented shows the…
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