Pottsgrove board approves design phase for athletic complex; financial advisor outlines borrowing options

The Pottsgrove School Board on Sept. 23 authorized the district to proceed with the design phase of a proposed athletic complex renovation and reviewed financing options presented by PFM Financial Advisors.

Jamie Doyle of PFM told trustees the district is well positioned to borrow on a tax‑exempt basis given current market conditions and outlined an analysis of an $8,995,000 potential borrowing to fund the project. Doyle described three IRS tests that affect tax‑exempt financings — reasonable expectations for spending, entering a substantial binding obligation within six months to spend at least 5% of proceeds, and proceeding with due diligence — and said the district would qualify for the "small issuer" exception because planned borrowings would be under the $15 million calendar‑year threshold.

"This evening is an initial presentation to the board," Doyle said, adding that the district would have several structuring options if it chose to enter the market. He described…