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Monrovia board hears healthy bond outlook; district project draws, PA and clock upgrades planned
Summary
Presenters told the Monrovia board Measure MM bond funds and additional state grants leave the district in a strong position, with upcoming draws, potential refinancing savings and roughly $10 million earmarked for PA, bell and clock systems; designs for facilities (including the pool) were promised on Sept. 10.
District bond consultants told the Monrovia Unified School District board the district’s Measure MM bond program remains in a healthy position, with upcoming draws, available state modernization grant funds and potential refinancing savings on older bond issues.
Presenter Jason Chung summarized recent activity and market conditions and said refinancing a 2015 bond could reduce the interest rate from about 4.6 percent to about 2.6 percent; presenters said…
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