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East Chicago finance advisor outlines $6.5 million facilities plan; board told borrowing can proceed without raising tax rate
Summary
A financial presentation at the Feb. 11 School City of East Chicago meeting sketched a facilities-improvement borrowing plan of about $6.5 million that district advisors say can be issued without increasing the tax rate, and noted pressing HVAC needs in some buildings.
A financial advisor working with School City of East Chicago told trustees on Feb. 11 that the district can borrow about $6.5 million for prioritized facility improvements without increasing the current tax rate.
Steve Dalton, who said his firm has worked with the district for about a decade, presented a reduced list of projects trimmed from a larger set of facility needs to fit a debt plan the district can carry without raising what he described as the district’s existing debt-related tax rate. Dalton…
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