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Adams 12 issues $171.5M bond tranche, nets $185M for initial capital projects; district outlines IT and construction plans
Summary
Adams 12 Five Star Schools staff told FACT advisory members the district issued $171.5 million of bonds in late January, netting about $185 million to the project fund to begin capital and IT projects.
Adams 12 Five Star Schools staff told FACT advisory members that the district issued its first bond tranche in late January and is moving forward on planned capital and IT projects.
District staff reported the first par issuance was $171,500,000 with an 8.4% premium and issuance costs of roughly 6%, which together netted about $185,000,000 to the project fund. The district is authorized to issue up to $830,000,000 of par; staff said the initial tranche is intended to fund roughly the first two years of bond investments and additional issuances are expected over the next several years.
Officials said they are reclassifying allowable pre‑issuance spending under IRS rules and have allocated charters a proportional share of bond proceeds;…
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