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Business official warns of higher debt service in 2025-26 budget after capital vote
Summary
The district presented early 2025-26 budget details showing an expected increase in debt service tied to the $70 million capital project; administration said phase 1A bid results may moderate borrowing needs.
John Andrews, the district—usiness administrator (presenter), told the board the 2025-26 budget will show a substantial increase in debt service tied to the capital project the public approved. He said the district is planning long-term financing and that next year will likely be the first with a materially larger debt-service payment tied to the $70,000,000 capital project.
Andrews said phase 1A bid results "came in very well," which could reduce the amount the district needs to borrow. He described current short-term financing arrangements: the district is carrying bond anticipation notes (BANs)…
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