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District adviser: 2025 bond sale yields premium; board committees approve athletics, HVAC and construction work
Summary
The finance committee accepted a low bid on $15 million of 2025 school bonds that produced a premium for construction. Committees voted to spend remaining 2023 bond funds on athletic complex work, bus cameras and a backup chiller, and staff reported project delays and drainage issues at several campuses.
Beauregard Parish School District’s finance and facilities staff briefed committees Sept. 8 on the outcome of a $15 million general obligation bond sale and on proposed uses of remaining 2023 bond funds.
Stephanie Fairridge, the district’s financial adviser present at the meeting, said four firms submitted bids on the series 2025 bonds and the low true interest cost was 4.35%. She told the committee the sale produced a premium that will provide additional construction proceeds; an initial figure cited was $15,122,825, and she later clarified that after issuance costs the net proceeds going into the construction account would be $15,000,001.22.
Finance committee action The finance committee adopted a resolution authorizing acceptance of the low bidder and formalizing the sale. Fairridge said the bonds will be delivered and the funds available on Sept. 25, 2025.
Planned uses of remaining 2023 bond funds District staff presented a proposed list of projects to be funded…
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