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School board gives preliminary OK to pursue up to $40 million revenue bond for high‑school experience upgrades
Summary
Superintendent Cole proposed a revenue bond to fund facility and program upgrades for high‑school students; the board gave preliminary approval to start the bond process and authorized bond counsel to apply to the State Bond Commission and hire transaction professionals.
The board gave preliminary approval to a resolution to pursue revenue bonds of up to $40 million, over a 20‑year term not to exceed a 6 percent interest rate, to fund district priorities focused primarily on high‑school facilities and programming. Andrew Jaro of Foley & Judell, bond counsel, told the board the procedural resolution sets maximum parameters, authorizes application to the State Bond Commission and engages professionals to shepherd the process.
Rationale presented:…
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