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District bond dashboard shows $4 million in earned interest, targets final Series 3 sale in May
Summary
Building and site committee reviewed the quarterly bond dashboard: original 2021 bond $186 million, about $4 million in earned interest accounted conservatively to avoid arbitrage, approximately $8.3 million cash on hand for Series 2, and district staff targeting a Series 3 bond sale in early May to raise roughly $38 million.
Livonia Public Schools' building and site committee reviewed the quarterly bond-program dashboard and finance tables, discussing earned interest, remaining cash flow and plans for a final bond series.
Plant Moran/RealPoint representatives described the district's bond program accounting. Staff said the original 2021 bond totaled $186 million; the dashboard includes roughly $4 million in earned interest that the district is conservatively counting as construction funds…
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