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Board approves $52 million bond anticipation note; Wells Fargo bid chosen
Summary
The Waunakee Community School District board accepted the sale of a $52,000,000 bond anticipation note (BAN) and authorized related resolution after a public bid; the winning bid came from Wells Fargo at 3.617% and the district plans an April 1 closing.
The Waunakee Community School District Board of Education voted to accept the sale of a $52,000,000 bond anticipation note and authorized the related resolution during its regular meeting. The winning bid, from Wells Fargo, priced the BAN at 3.617%.
Administration told the board the sale was run by the district’s financial advisor, PMA, and that multiple competitive bids were received today; the highest bid shown in the presentation was 3.94%. Officials said closing was targeted for April 1 so the district could preserve an additional year of borrowing flexibility. The BAN term was described as five years; administration said permanent bonds may be issued…
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