Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Abington Heights says bond pricing successful; $30 million tranche to fund middle school construction
Summary
Board members were updated that S&P affirmed a double-A rating, bond pricing was oversubscribed and the district will deposit a $30 million tranche into the construction bond fund to spend on the middle school project once proceeds arrive.
Abington Heights School District officials told the school board on Sept. 3 that bond pricing for a $30 million borrowing was successful and the district expects proceeds to be deposited into the bond construction fund to pay for the district's middle school project.
Board members heard that S&P affirmed the district's double-A rating with a stable outlook and that the bond sale was oversubscribed, meaning investor demand exceeded supply in multiple maturities. A district staff member summarized the result as a "successful pricing" and said the district was "awaiting the proceeds in the coming days." The board was told that the existing $10 million bond series has just under $2 million remaining to be spent and that spending will shift to the $30…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
