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Northern Lebanon SD officials outline plan to borrow about $9M for secondary school work
Summary
District financial advisers told the Northern Lebanon School District Board the district can borrow roughly $9 million–$9.5 million this spring to fund remaining secondary school construction, with a parameters resolution expected in March and proceeds arriving in April or May.
Brad, a district financial adviser, told the Northern Lebanon School District Board of Directors on Feb. 4 that the district’s next bond sale could supply about $9 million to $9.5 million for the high school project.
Brad said municipal markets remain receptive and that the district’s expected borrowing would be amortized over roughly a 22-year schedule. “I would expect that you would receive some good interest rates on your next transaction,” he said.
The advisory presentation laid out a draw schedule showing estimated uses and sources of funds, the district’s current principal-and-interest profile, and a borrowing-capacity calculation based on the district’s audited financials and the Pennsylvania…
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