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Board approves public hearing on up-to-$110M bond sale; business report shows capital fund balances and sales-tax receipts
Summary
The board authorized steps required to offer general obligation alternate bonds not to exceed $110 million, set a public hearing required by law and heard a capital projects cash-roll report showing a year-end balance of about $59.3 million and December sales-tax receipts of $1.125 million.
Springfield School District 186’s board on Feb. 3 approved a resolution to begin the bond issuance process for up to $110 million in general-obligation alternate bonds and set a public hearing required by the Bond Issue Notification Act before a final sale.
Director Miller clarified that the board’s action authorizes public notice and a hearing but does not approve the actual sale; the district expects an initial issuance in 2025 and a subsequent sale in 2026 to fund multi-phase capital projects that the board previously reviewed.
Business-report highlights presented to the board…
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