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Advisers outline $110 million bond plan and reimbursement scenarios; committee delays final language
Summary
Hilltop Securities presented a conservative financing model for a proposed $110 million Chariho school bond, showing state reimbursement at about 61% (with a 65% sensitivity) and an estimated net annual debt service of roughly $2.5M–$2.8M; the committee agreed to put bond-language approval on the December agenda.
Hilltop Securities municipal adviser Matt Blaise told the Chariho Regional School Committee Nov. 18 that a conceptual $110 million bond for district capital needs could be structured on a 30-year amortization under conservative market assumptions.
Blaise presented a baseline analysis using a 5% assumed interest rate and showed how Rhode Island Department of Education reimbursement reduces the district's net debt service. Using the district's typical 61% base reimbursement, Blaise said net debt service…
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