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Octorara Area SD staff outline plan for $15 million bond to fund capital projects
Summary
District staff told the school board the district is proposing a $15 million bond issue to finance multiple capital projects; key financing terms—including final term and coupon—are not yet set and will depend on market timing.
Octorara Area School District staff presented a proposed $15 million bond purchase agreement to the school board on Jan. 13 and said the district intends to seek a resolution this month to allow the bonds to go to market.
District staff said the borrowing would provide funds for a group of planned infrastructure projects and that advisors at Raymond James recommended issuing now to take advantage of the district’s current ability to borrow. "We have considered, in the past months, a bond issue, to generate $15,000,000, to allow us to move…
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