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Board approves bond‑redemption resolution to reduce excess debt‑service reserves and preserve levy
Summary
The board approved a Stifel‑recommended resolution to redeem selected 2020 bond maturities using debt‑service fund balance, lowering the district’s debt‑service reserve from an amount above state limits and allowing the district to keep the current debt‑service levy rate.
The Ferguson‑Florissant R‑II Board on Wednesday voted to approve a bond‑redemption resolution that will use debt‑service fund balance to retire certain 2020 bond maturities and reduce the district’s excess debt‑service reserves.
Lorenzo Boyd, managing director of investment banking at Stifel, briefed the board on the district’s five series of outstanding…
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