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Hillsboro R-III board approves bond defeasance, two new buses and final construction payment
Summary
Board approved a bond defeasance to redeem $2,855,000 (Series 2017A) on or about March 1, 2025, the purchase of two Bluebird 77-passenger buses for $297,800.80 (one bus to receive a $22,500 DERA grant), and the final contractor payment for the Ridge Learning Center (reported as $777,764).
The Hillsboro R-III Board approved several fiscal actions during the meeting.
Defeasance of bonds: The board approved a resolution authorizing the defeasance of a portion of the district's outstanding general obligation bonds (Series 2017A). District staff said the defeasance will allow the district to pay off $2,855,000 early, with a planned redemption date of March 1,…
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