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Board authorizes FY27 facilities financing, approves five‑year facilities plan
Summary
The board approved a package of long‑term facilities maintenance funding and school building bonds and adopted the district’s five‑year facilities implementation plan, authorizing up to $25.9 million in facilities maintenance bonds and $15 million in school building bonds for FY27 and formal adoption of the five‑year FMP.
The St. Paul Board of Education on July 15 approved the district’s fiscal‑year 2027 long‑term facilities maintenance (LTFM) plan documentation and authorized the intent to issue general obligation bonds not to exceed $25,900,000 for facilities maintenance and $15,000,000 for school building purposes. The board also adopted the five‑year facilities implementation plan for fiscal years 2026–2030.
Michael Hart of PMA Financial, the district’s municipal advisor, presented the financing plan and said the new FY27 request extends the multi‑year program and was driven by a mix of available long‑term facility cash, needed project funding and pay‑as‑you‑go levy assumptions. "We intend to issue $25,900,000 of general obligation…
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