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Nassau school board to consider revenue-anticipation note to finance new buses
Summary
At an agenda-review meeting, staff explained a proposed revenue-anticipation note (RAN) to buy school buses, outlining expected financing terms, potential interest earnings on escrowed funds and repayment schedule; the item is set for formal consideration at the board's upcoming meeting.
The Nassau County School Board discussed a proposed revenue-anticipation note to finance the district’s planned bus purchases during its agenda-review meeting. Staff described the financing instrument and said the formal resolution to issue the RAN will appear on the board’s action agenda.
Board members were given an overview of why staff recommend the RAN and how it would be repaid. The district’s staff member, Ellen, explained, “So a RAN is a revenue anticipation note. And instead of doing, a lease purchase agreement it's a little bit cheaper and it does better, the…
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