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Board approves $1.25 million move to prepay debt tied to capital‑referendum bonds
Summary
The Fort Atkinson Board of Education approved a resolution to move $1,250,000 to prepaid debt to defease bonds issued as part of a $22,000,000 capital referendum, a financial step staff said will honor the board's approved budget and reduce long‑term costs.
The Fort Atkinson Board of Education on May 16 approved a resolution to transfer $1,250,000 to prepaid debt to defease bonds issued as part of a prior $22,000,000 capital referendum.
Finance staff explained the timing: the district collects property taxes in three installments through the year and the final installment arrived in April,…
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