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Putnam County board approves up to $100 million in bonds for Kelly Smith and Melrose work
Summary
The Putnam County School Board unanimously approved a resolution April 15 authorizing up to $100 million in general obligation bonds to fund new construction at Kelly Smith and work at Melrose, and approved related architect contracts and project scopes.
The Putnam County School Board voted unanimously April 15 to approve a resolution authorizing the issuance of general obligation school bonds for Series 2025 with a not-to-exceed par amount of $100,000,000 to fund construction and renovation projects, primarily a new Kelly Smith school and work at Melrose.
The bond resolution approved by the board authorizes staff to advance the sale; financial adviser Laura Howe of PFM Financial Advisors told the board the district plans a competitive sale on June 3 and a funding/closing on June 20. “The not to exceed amount is a hundred million,” Howe said, adding that the district could issue slightly less if fee brackets require it: “If the fees… stay in the same bracket, then we would go ahead and issue for the full hundred.” District staff member Jonathan Odom described the figure in the agenda as approximate and said board approval would allow…
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