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St. Martin Parish Schools board considers calling May 3 election for up to $30 million in bonds

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Summary

Grama Schwood, bond counsel, told the St. Martin Parish Schools Board that the resolution before the board would authorize a May 3 special election to allow voters to approve up to $30,000,000 in additional general obligation bonds "with no projected increase above the current rate of 21.5 mills" to pay the district's outstanding and new bonds.

Grama Schwood, bond counsel, told the St. Martin Parish Schools Board that the resolution before the board would authorize a May 3 special election to allow voters to approve up to $30,000,000 in additional general obligation bonds "with no projected increase above the current rate of 21.5 mills" to pay the district's outstanding and new bonds.

The resolution, as described by Schwood, would require the board to adopt a capital-improvement plan and designate specific projects using bond proceeds before the election. "The proposition as drafted as with your prior…

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