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Cornwall-Lebanon SD to consider parameters resolution for $50 million phase of Cedar Crest high school and stadium financing
Summary
Financial advisors told the school board March 10 that market conditions make this spring a reasonable window to lock an initial $50 million taxable-exempt borrowing for Cedar Crest High School and stadium work; the board is scheduled to consider a parameters resolution next week that would authorize a larger cap to preserve timing flexibility.
Financial advisers for the Cornwall-Lebanon School District on March 10 recommended the board move forward with a tax-exempt borrowing to begin funding the Cedar Crest High School renovation and stadium projects, with a target issuance this spring of about $50 million.
The advisers said market interest rates have trended lower since the beginning of 2025 and that timing looks favorable to “lock in” rates in mid-April and close before Memorial Day. Brad Remick of PFM Financial Advisors told the board that, “going down is a good thing. Okay. So that means rates are getting more attractive, as we get into the 2025 year.” Lou Verdeli of Raymond James said demand for municipal bonds has been strong, citing an example of a recent $40 million Pennsylvania issue that drew roughly $100 million of orders during its sale.
The board was told it must take a parameters…
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