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District adviser says $28 million bond sale succeeded; board names citizen oversight committee
Summary
A financial adviser told the board Southern Kern’s recent bond sale raised about $28 million at an average interest cost near 4.79% and retained an A rating; trustees approved a seven-member citizen’s oversight committee to monitor bond expenditures.
Kush Kiara, presenter, told the Southern Kern Unified School District Board of Education the district sold about $28 million in general obligation bonds and received a favorable market reaction that yielded a roughly 4.79% interest cost for this series.
“Very pleased to say that, last November, your, electorate almost 60% of your electorate, voted yes on your bond measure,” Kush said in the boardroom, framing the sale as voter-backed and noting the district required 55% to pass the measure.
The nut graf: the adviser said the sale preserved the district’s A rating amid…
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