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South Fayette Township SD reports $14,402 near‑term debt‑service savings from bond sale; final budget vote set for June 17
Summary
District officials told the school board the competitive bond sale produced lower-than-projected costs for 2025 and larger long‑term savings, while staff outlined a $5.53 million budget deficit under an Act 1 index scenario and scheduled a final budget and millage vote for June 17.
South Fayette Township SD officials reported improved results from a competitive bond sale and updated the board on changes to the 2025–26 budget, with a final budget and millage vote scheduled for June 17.
The district’s bond sale, conducted through financial advisor PFM, received six bids from five bidders and produced a winning bid with a yield of 4.68. The district’s presenter said the sale reduces the district’s 2025 debt‑service cost by $14,402 and is projected to lower total costs over the life of the 2025 bond by just over $1.5 million compared with earlier projections. Officials said the district expects to receive the full deposit for the bond around June 24 and that PFM is finalizing an updated debt‑service presentation for the board.
The update also presented budget scenarios tied to different millage rates. Using a revenue projection that raises…
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