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Tri‑County update: construction to 2027 after $140 million bond sale; Millis' share edges up with enrollment increase
Summary
Tri‑County school officials told the Millis Select Board on Jan. 27 that the district sold $140 million in bonds to fund construction and remains on a schedule to finish construction in 2027, while an October enrollment uptick modestly increased Millis’ projected share of early debt service.
Tri‑County Regional Vocational Technical High School officials updated the Millis Select Board on Jan. 27 about the school building project timeline, recent financing and changing enrollment that affect member towns’ debt shares.
School business officials said the district remains in the site enabling and final design phase and continues to anticipate construction through the summer of 2027 and an opening for students in September 2027. The district entered the Massachusetts School Building Authority (MSBA) pipeline in December 2019 and completed a feasibility study in 2021.
On Jan. 7 the district sold $140,000,000 in school bonds to fund the bulk of construction. Officials said six bids were received and the low bid came from Jefferies LLC with a true interest cost (TIC) of 3.9899 percent; the sale included a premium of $3,400,000 that under Massachusetts General Law must be returned to the bond issue and affects the net debt. “We sold a $140,000,000 in school bonds. 6 bids were received. The low bid was Jefferies LLC of New York…
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