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Committee reviews planned ~$99 million bond issuance and warns of higher debt‑service line on tax notices
Summary
Putnam County oversight committee members and staff discussed a planned bond issuance of roughly $99 million, timing for board approval and closing, accumulated interest on bond proceeds, and the likely effect on the debt‑service line item in property‑tax notices.
Putnam County finance staff and committee members discussed the timing, fees and tax effects of a planned bond issuance that would fund the next phase of school construction, and committee members asked that the district and school board communicate the tax impact to residents.
Jonathan (finance staff) told the oversight committee the district plans to seek another bond issuance of about $99,000,000 and work to have board-level documents in place ahead of an April 15 presentation to the school board. “With this next round of $99,000,000 for the bond,” Jonathan said during the meeting. He described a closing target in mid‑June and said the committee’s next meeting is scheduled for June 18 to align with the financing timeline.
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