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Duluth schools advance bond and certificate resolutions to fund facilities, including DNT building
Summary
District staff presented resolutions authorizing up to $38 million in general obligation capital appreciation bonds (Series 2025A) and a parameters resolution for full-term certificates of participation (Series 2025B) tied to the Duluth News Tribune First Street building; officials said strong demand and the district's A3 Moody's rating produced a
Duluth Public Schools staff told the HR Business Services Committee on Oct. 13 that the district will ask the School Board next week to approve a package of financing actions to fund capital work, including the Duluth News Tribune (DNT) First Street building project.
The packet includes a resolution providing for the issuance, sale and delivery of a $38,000,000 general obligation capital appreciation facilities maintenance bond, Series 2025A, and a parameters resolution authorizing the issuance and sale of full-term certificates of participation, Series 2025B, related to the DNT building. District staff characterized the Series 2025A document as “kind of like the mortgage…
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