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District finance advisers outline $175M bond sale plan, timing and refunding options
Summary
A contracted financial adviser briefed the Sumner School District board on a proposed first sale of about $175 million of the voter-approved bond authorization, recommended a negotiated sale because of market volatility and said a refunding of 2014–15 bonds could save roughly $280,000 if market conditions allow.
A contracted financial adviser working with Sumner School District told the board the district plans a first bond sale of roughly $175 million from the voter‑approved authorization and recommended a flexible, negotiated sale approach because of volatility in interest rates.
Mark (financial adviser, ESD 112 contractor) briefed trustees on the plan and timeline, saying the hard work — getting voter approval — is complete and “now we get to sell bonds.” He described several objectives: meet the tax-rate expectation communicated during the election (a total tax rate of $4.63 per $1,000 of assessed value), provide proceeds in time for construction, and consider refunding outstanding 2014–15 bonds if refunding yields…
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