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Board approves reimbursement resolution to enable racetrack bond refunding
Summary
CFO Lake presented a reimbursement resolution declaring the board's intent to issue tax-exempt debt to finance capital projects and to reimburse prior qualifying expenditures; the board approved the resolution by voice vote.
CFO Lake presented a reimbursement resolution to the Levy County School Board that would let the board recover eligible capital expenditures from future tax-exempt bond proceeds tied to the district's racetrack bond refunding.
"This resolution declares the school board's intent to issue tax exempt debt to finance certain projects," CFO Lake said. "By declaring its intent to issue tax exempt debt, this resolution allows the…
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