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Finance committee advances parameters resolution authorizing up to $15 million for initial high-school project borrowing
Summary
The committee voted to place a parameters resolution (authorization up to $15 million) for initial borrowing tied to Phase 1 of the district's $260 million high-school project on the Jan. 23 action agenda, after reviewing three borrowing scenarios and credit-rating implications.
The finance committee recommended placing a bond parameters resolution on the Jan. 23 action agenda that would authorize borrowing up to $15,000,000 to help fund Phase 1 of the district's high-school renovation project. The motion to place the parameters resolution on the Jan. 23 action meeting passed unanimously.
District financial advisers (PFM) presented three scenarios for potential 2025 borrowing: borrow $15 million, borrow $10 million, or borrow nothing this year and use reserves. PFM's analysis compared (1) interest the district would earn on invested borrowed proceeds while draws are made, (2) debt-service payments that would begin if debt is issued in 2025, and…
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