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Lexington 1 board authorizes up to $37 million in general obligation bonds, approves 8% capital project list
Summary
The Lexington County School District One Board of Trustees authorized the sale of General Obligation Bond Series 2025B up to $37 million and approved a district capital project list funded from the 8% bond proceeds, after debate about tax impacts and project priorities.
The Lexington County School District One Board of Trustees on Aug. 19 authorized the sale of General Obligation Bond Series 2025B in an amount not to exceed $37,000,000 and approved the related 8% capital project list, which includes $30 million for new capital projects and about $22.8 million of other identified upcoming needs.
Board members debated the size and timing of the sale at length, focusing on tax impacts, project urgency and project prioritization. Some trustees expressed concern about the scale of the bond relative to prior years and the effect on taxpayers; others said the district’s rising assessed values make more capital available without raising the millage rate.
Supporters, including Chief Financial Officer Miss Miller and district staff, said the authorization is routine for the…
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