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School board approves parameters to borrow up to $7.285 million for Phase 1 sustainability projects
Summary
After a progress update from McKinstry on solar, electrification and efficiency work, the Middleton-Cross Plains Area School District board approved a parameters resolution allowing the district to borrow up to $7,285,000 to fund Phase 1 sustainability projects while debates continued over adding geothermal at Sauk Trail.
The Middleton-Cross Plains Area School District board on July 14 approved a parameters resolution authorizing the district to enter the bond market to borrow up to $7,285,000 to fund Phase 1 of its sustainability program, following an update from contractor McKinstry on completed and pending work and a discussion of financing options.
The board voted on a parameters resolution that allows district officers to finalize the timing and final terms of a sale — giving administrators flexibility to go to market when rates and issuance conditions are favorable.
McKinstry officials said the district’s Phase 1 program has saved money in several line items, reallocated solar scope because of utility interconnection limits at one site, and identified a net contract reduction of about $660,500. McKinstry’s Eric Renez, regional director for McKinstry Midwest Energy, told the board that…
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