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Pleasant Valley business office recommends $40M bond to fund remaining high‑school construction; board signals support to proceed
Summary
Business officials presented two Raymond James bond scenarios to fund remaining high‑school construction; staff recommended issuing $40 million now, and the board signaled informal support to proceed while monitoring grants and the governor’s budget.
Pleasant Valley School District business staff told the board on March 13 that the district still must finance roughly $42 million to complete the high-school renovation and presented two bonding options from Raymond James.
The options and recommendation Finance staff described two bonding scenarios discussed with Raymond James: (1) borrow $15 million in 2025 and another $10 million in 2026 (borrowing completed in stages) to reach the target funding over time; or (2) issue $40 million in 2025 (a single financing) and use the district’s capital reserve and interest earnings to cover the remaining approximately $2.5 million. Business staff recommended option…
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