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Board authorizes sale of $39 million in GO school building bonds to fund first phase of high school project
Summary
Board approved a resolution to issue $39 million in general obligation school building bonds (Series 2025A) as the first phase of a two‑part financing for the Northfield High School construction project; bids will be taken Feb. 24 and proceeds available March 20.
The Northfield Public School Board on Jan. 27 adopted a resolution to issue $39,000,000 in general obligation school building bonds, series 2025A, for the first phase of the district’s approved high school construction program.
Jeff Seeley of Ehlers Inc., the district’s municipal advisor, presented the sale-day report and financing structure. He said the $39 million bond is the first of two planned issuances (the second is estimated at roughly $80,080,000 and expected in spring 2027). The first issuance will provide cash for construction through summer 2027, Seeley said. The bonds carry a…
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