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Board authorizes lease financing and building corporation for school projects
Summary
The board adopted resolutions finding a need for projects, approving a lease form to fund work and reauthorizing a standing building corporation to issue tax‑exempt bonds; hearings on the projects will be scheduled in August and bonds likely sold in fall.
The New Albany Floyd County School Board on July 14 approved a series of resolutions to begin financing facility projects through lease financing and a building corporation, voting 7-0 to adopt each resolution. The board first adopted a resolution determining need for renovation and improvement projects across the district, as required by the school leasing statute (IC 20-47-3). Board staff described projects included…
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