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Board adopts bond parameters, authorizes first issuance; agrees to sell small district parcel in Cumbre Vista to Colorado Springs
Summary
Trustees approved parameters for the first issuance of voter-approved general obligation bonds and authorized a real estate purchase agreement to sell a 5.75-acre district parcel in Cumbre (Cumbra) Vista to the City of Colorado Springs parks department, which has first right to purchase.
The Academy District 20 Board approved parameters that will allow the district to sell a first tranche of voter-approved general obligation bonds and separately authorized a purchase agreement to sell a 5.75-acre parcel the district owns in the Cumbre/Cumbra Vista area to the City of Colorado Springs.
Board members approved a parameters resolution (18-25) that staffs said is needed to set terms and limits for a planned bond sale. Board documents estimate an initial issuance of about $36.14 million for district-building projects that can meet the state…
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