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District finance team outlines plan for final $4 million borrowing; board names financial advisers
Summary
A finance presenter briefed the Shippensburg Area School District board on a proposed $4 million tax-exempt borrowing to finish several capital projects and explained the parameters resolution process; the board later approved financial advisers and bond counsel to support a potential issuance.
Jamie, a finance presenter for the Shippensburg Area School District, updated the board on a proposed additional $4,000,000 tax-exempt borrowing intended to finish several existing projects, including the high school STEM lab (GISA) project, a high school traditional bid project, a middle school parent loop and athletic facility lighting. "This will be an illustration for an additional $4,000,000 borrowing to finish up the existing projects," Jamie said.
The presentation explained why the district can use a parameters resolution — a board action that sets maximums for principal, interest rate and maturity to allow staff to…
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