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Board approves $6 million transfer to capital projects fund and authorizes interim bond counsel
Summary
The board amended a proposed transfer and approved a $6,000,000 move from the general fund balance to the capital projects fund and also authorized interim bond counsel to proceed with bond issuance planning.
The Northern Lebanon School District Board of Directors voted unanimously to transfer $6,000,000 from the districts assigned general fund balance to the capital projects fund, amending an earlier motion that had proposed a $9,300,000 transfer.
Board members debated the size and timing of the transfer after administration explained construction timing, hidden asbestos abatement costs and the need to make vendor payments while bond proceeds are scheduled. Administration…
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