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Orono accepts bond sale, approves 10‑year facilities plan and authorizes new depository option
Summary
The school board approved the district 10‑year LTFM plan, accepted a successful bond sale (series 2025A), and authorized Ehlers and Pershing LLC as options to manage and hold bond proceeds.
The Orono Public School District Board of Education on May 13 approved its 10‑year long‑term facility maintenance (LTFM) plan for fiscal 2027–2036, accepted the sale of general obligation bonds issued May 13 and authorized an additional investment/depository option for bond proceeds.
The board voted unanimously (roll calls recorded for the LTFM and intermediate‑district items) to approve the district’s updated 10‑year LTFM plan and the intermediate district (Intermediate School District 287) proportionate share, and to accept the bond sale resolution awarding the sale of general obligation facilities maintenance, capital facilities and tax abatement bonds, series 2025A. The winning bidder on the sale was Piper Sandler, the district’s financing advisors reported; the sale attracted six bids and produced a low…
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