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William Penn SD bond sale nets better rates, lower long-term debt cost, district official says
Summary
Melissa Hughes reported a successful bond sale that raised $13.1 million for cash flow and about $12.7 million for construction; the combined average interest rate was 4.1 percent and the sale reduced estimated long-term debt service costs compared with earlier projections.
Melissa Hughes provided a bond-sale update during the district's February budget meeting, reporting that the most recent sale performed better than prior estimates and will modestly reduce long-term debt service costs.
"The bond sale went really, really well," Hughes said, calling the transaction a “home run.”
Hughes said the district borrowed $13,100,000 for cash-flow purposes; a separate issuance will net about $12,700,000 for…
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