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Octorara Area school board approves $17.5 million bond purchase agreement with Raymond James
Summary
The Octorara Area School District board approved a bond purchase agreement with Raymond James and Associates Inc. for $17,500,000 to fund capital projects; two directors abstained, citing business ties to Raymond James, and staff explained the amount was a placeholder and an example interest rate was offered.
The Octorara Area School District Board of School Directors voted to approve a bond purchase agreement with Raymond James and Associates Inc. for $17,500,000 to finance capital projects.
Board members discussed the mechanics of the sale before the vote; a staff member said the $17.5 million figure and the example interest rate were illustrative and that the district would lock a final rate after board approval. Two directors abstained, citing business relationships with Raymond James; there were no recorded votes in opposition and the motion passed by voice vote.
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