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Board approves $80 million debt authorization and advances referendum project planning
Summary
Trustees approved a resolution authorizing not-to-exceed $80 million in debt tied to the November referendum and discussed project-tracking, procurement and construction management funding. The board also approved a contract for the new Dutch Fork Elementary School after rejecting a last-minute amendment to require sustainability goals.
The School District 5 board voted Jan. 13 to approve a resolution authorizing the issuance of not-to-exceed $80,000,000 of debt approved by the November referendum. "This debt will be offered for public sale through a competitive process," said financial adviser Jay Glover, who described how bids are awarded on lowest true interest cost and how premium proceeds are handled. The resolution passed 7 to 0.
Superintendent Ross said the administration will publish a bond-referendum dashboard to show project budgets and milestone status (procurement, design, permitting, construction,…
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