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Business administrator outlines $94M in outstanding GO debt, suggests 2027 bond timing to spread costs
Summary
The district's business administrator presented a schedule of outstanding general obligation and lease-revenue debt, noted a projected decline in debt service in fiscal 2028'29 and recommended considering a bond election in 2027 to finance junior-high and other capital projects while minimizing tax increases.
The Ogden City School District's business administrator briefed the board on outstanding district debt and the timing options for future borrowing to finance capital projects.
Business Administrator Zane presented a debt schedule showing approximately $94 million in outstanding general obligation bonds (voter-authorized bonds) and an aggregate of roughly $148 million when lease-revenue bonds are included. He showed projected debt-service payments under a conservative 2.5% annual growth assumption for the tax base and pointed out a substantial…
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