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Board approves purchase of land near Matthews Elementary and OKs lease certificates to finance acquisition
Summary
The board approved a $2.465 million land purchase adjacent to Matthews Elementary and authorized a parameters resolution to issue up to $2.5 million in 2025 lease certificates to fund the acquisition; the lease structure includes interest-only payments for the first three years and a 15-year maturity.
The Grain Valley R-V School District Board voted to buy land adjacent to Matthews Elementary for $2,465,000 and approved a parameters resolution to issue Series 2025 lease certificates of participation to provide short-term financing for the purchase.
In a presentation to the board, Superintendent Dr. Willie said the land acquisition will allow "additional classrooms, student restrooms, additional parking, improved traffic flow for cars and buses, and other improvements" at Matthews Elementary and that the district expects to close on the property in October. He told the board the purchase is intended to support a bond proposal to voters in April 2026; the board discussed an estimated bond package of roughly $40 million, with…
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