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District—s municipal advisor outlines $110M bond plan and state reimbursement assumptions
Summary
Hilltop Securities presented a conservative financing plan for a $110M bond issue, modeling a 5% interest scenario and noting Rhode Island—s Department of Education reimbursement typically covers about 61% of debt service; committee discussion covered rating, timing and issuance options.
The Chariho Regional School Committee on Nov. 18 heard a detailed bond-financing briefing from municipal advisor Matt Blaise of Hilltop Securities on a proposed $110 million to $110.2 million bond issue intended to support the district—s capital needs.
Blaise said the analysis modeled a 30-year amortization under conservative assumptions, using a 5% interest rate for sensitivity. "What this is looking at is a $110,000,000 to $110,200,000 bond issue," he said, adding the base state…
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