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Board members press city over delayed bond sale, auditors’ finding on unpaid interest from city use of district cash
Summary
Board members raised alarms about a delayed city bond sale that has left district-authorized projects unissued and questioned unpaid interest on district reserves; staff said they will present options at the next meeting.
Several Buffalo Board of Education members used the June 18 meeting to publicly press city officials and the comptroller’s office over a delayed municipal bond sale and an external auditor finding that the city had not been paying interest on district funds the auditor said the district was owed.
Board members said the district’s capital slate—21 projects approved in the city capital budget and by bond counsel—remains “authorized but unissued” because the comptroller’s office held the bond sale; board members and…
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