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Middletown Area SD to issue $15 million bond this year; final tranche delayed until next year, financial advisers say
Summary
Raymond James advisers told the school board the district will issue $15 million in general obligation bonds in 2025 and hold a smaller "cleanup" issue next year once final project costs are known; no board action was required at the meeting.
Ken Phillips of Raymond James & Associates told the Middletown Area School District board that the district plans a $15,000,000 general obligation bond issue this year and a second, smaller “cleanup” issue next year once final project costs and district cash contributions are known.
"So tonight's just an update. No formal action is required," Phillips said, describing the plan and current market conditions. He said the district has taken three prior bond issues — $10 million in 2022, $10 million in 2023 and $30 million in the fall of 2024 — and had planned…
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