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Board authorizes authority to pay closing costs and approves moving forward on debt-refunding proposals
Summary
The board authorized staff to write a closing check up to $250,000 for the land purchase and approved moving forward with proposals to refund several capital outlay certificates and bonds, projected to net roughly $662,248 in savings over the outstanding lives of the issues.
The Tea Area School Board gave staff authority to write the closing check for the approved land purchase for up to $250,000 and authorized staff to pursue proposed refunding of certain capital outlay certificates and general obligation bonds to realize debt-service savings.
Business manager (Speaker 4) told the board the immediate closing-cost estimate is about $214,005 and asked for…
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