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Staff explains $70 million bond issuance process and dual public hearings under new rules
Summary
District counsel and staff described a proposed $70 million bond issuance and a municipal-building-authority approval step; new guidance requires separate public hearings for the district and authority and staff said issuance timing will aim for optimal interest rates and statutory constraints.
District staff outlined a proposed bond issuance of up to $70 million and described a new procedural requirement that the board hold separate public hearings and approvals for both the school district and the municipal building authority.
A staff member advising on the item said the board will first consider issuance approval for the district and then the municipal building authority; legal counsel recommended…
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