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Finance staff outline bond defeasance, $5.2 million fund transfer and investment strategy
Summary
Lee's Summit R-VII finance staff presented plans to apply roughly $6 million more toward defeasing 2016 general obligation bonds, reported a $5,207,592.05 transfer from the general fund to special revenue, and outlined a conservative investment strategy favoring treasuries.
Lee's Summit R-VII finance staff presented a package of debt‑management and monthly finance items to the finance committee, including a plan to defease part of the district's 2016 general obligation bonds, a scheduled transfer from the general fund to special revenue, and a review of revenues, expenditures and investment strategy.
Mr. Holder, presenting the treasurer's report, said the district has room in its debt service balance to make an additional payment of about $6,000,000 toward the remaining portion of the district's February 2016 general obligation bonds, which were…
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