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District budget staff outline defeasance plans for bond proceeds; $27.9 million borrowing noted
2806462 · March 28, 2025
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Summary
Finance staff told the board the district will use debt defeasance to meet spend-down requirements on prior borrowings and expects interest savings; actions will be brought to the March 17 meeting.
District finance staff reviewed resolutions that would authorize transfers of funds to complete debt defeasance for prior borrowings.
Officials said the district borrowed $27,900,000 in April 2023 for construction…
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