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Board approves lease authorization to back roughly $23 million in Blue Valley Rec projects
Summary
The Blue Valley Board of Education voted to authorize two supplemental lease-purchase agreements that let the Blue Valley Recreation Commission back certificates of participation for improvements to a sports complex and the district activity center. Board approval was 7-0.
The Blue Valley Board of Education on Jan. 13 voted 7-0 to adopt a resolution authorizing two supplemental lease-purchase agreements that will let the Blue Valley Recreation Commission proceed with financing for facility improvements.
The authorization gives the recreation commission the authority to enter into the lease agreements that will underlie certificates of participation (COPs) to fund capital work. Shane DeWald, speaking for the recreation commission, told the board the financing request totals about $23 million, with "$9,000,000 of it go[ing] to the baseball, the sports complex" and "the other $14,000,000 of it go[ing] into the activity center." DeWald said the projects are intended to respond to program growth and to replace leased storage and substandard building components.
The board vote…
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