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Las Cruces Public Schools closes $12.5M bond placement, board sets tax-rate intent and approves November bond question
Summary
The board received notice of a $12.5 million private placement closing, voted to maintain the district's debt-service mill rate and approved a resolution to place a general obligation bond and a school building tax renewal on the November ballot.
Las Cruces Public Schools announced the closing of a private placement of general obligation bonds and on June 17 the school board outlined its intent to keep the district’s debt-service property tax rate steady while approving a resolution to place a general obligation bond question and a renewal of the public school buildings tax on the November 4 ballot.
District finance staff and external advisers told the board the district closed a 2025 general obligation bond issue on June 17 through a private placement with the state treasurer’s office for $12,500,000. Catherine McKinney (Mojo Sperling) and representatives from RBC Capital Markets reported the sale yielded an interest rate of 4.817% and included short-term maturities, with the final maturity on Aug. 1, 2027. An adviser explained…
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