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Middle school project on track for summer completion; leftover debt‑exclusion funds subject to strict borrowing‑term rules

2127111 · January 17, 2025
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Summary

Commissioners received an update that the new middle school is on schedule to be completed this summer, with project closeout expected to generate significant leftover debt‑exclusion funds that are restricted to other long‑term borrowing projects of the same term.

The Finance Commission heard that the new middle school project is on schedule and that project closeout will generate funds that are legally restricted for use only on other capital projects borrowed for the same tenure.

Alan and liaison volunteers reported the project is scheduled to be completed in early June and that move‑in and punch‑list activities are timed to allow an August opening for the next school year. Tony, who presented project figures to the…

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