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School board approves $8.98 million certificates of participation to fund transition program remodel
Summary
South Washington County Schools board ratified the award of Certificates of Participation Series 2025A to finance acquisition and remodeling for the Special Education Transition Program. The sale drew five bids and came in below the board—s authorized maximum, with a true interest cost of about 4.03 percent.
Katie Schwartz, chair of the South Washington County Schools Board, on Jan. 16 approved the sale of Certificates of Participation (Series 2025A) authorizing the district to finance the acquisition and remodeling of a building for the Special Education Transition Program.
The action ratified the award of sale after a presentation from the district—s financial adviser and the sale report. The district will issue $8,980,000 in certificates, below the board—s previously authorized cap of $9,445,000, and will deposit $9,192,495 to the construction fund. The district—s consultant reported a true interest cost of about 4.03 percent and said the sale produced lower principal-and-interest payments than earlier estimates.
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