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District financial advisers report favorable bids on 2025 B bonds; board discusses debt structure and arbitrage
Summary
Financial advisor Mike Gallagher briefed the Lexington 1 board on the 2025 B bond sale, debt‑service levy modeling and arbitrage considerations, noting a 2.46% pricing and explaining sales‑tax credits and long‑term levy planning after a question‑and‑answer session with trustees.
The board received an overview of the district’s recent bond sale activity and debt structure as part of a 2025 B bond update on Sept. 16.
Miss Miller introduced the discussion and noted the district’s bond attorney and financial advisor were present. Mike Gallagher, Compass Municipal Advisors, said the winning bid on the 2025 B sale came from JPMorgan at an interest rate of about 2.46% and reported five bids were received. He walked trustees through historical…
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