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Lee's Summit R‑VII board authorizes $45 million bond issuance, approves refunding and fund transfers
Summary
The Lee's Summit R‑VII Board of Education approved a parameters resolution to issue $45 million in general obligation bonds, authorized a refunding resolution, and approved a transfer of $2,738,440.80 from the general fund to special revenue during its May 20 meeting.
The Lee's Summit R‑VII Board of Education on May 20 approved a parameters resolution calling for the issuance of $45,000,000 in general obligation bonds and a separate parameters resolution to authorize refunding of prior debt, while also approving a $2,738,440.80 transfer from the general fund to the special revenue fund.
The bond resolution, presented by a district staff member identified in the meeting as Dr. Sheldon, described the $45 million as the first tranche of bonds authorized by voters in a prior $225 million general obligation bond authorization. Dr. Sheldon…
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