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Board approves 10‑year facilities plan; district outlines $4.8 million roofing bond under new legislation
Summary
The CHISAGO LAKES SCHOOL DISTRICT board approved a 10‑year facilities plan and discussed Long‑Term Facilities Maintenance (LTFM) revenues, debt service and a $4.8 million roofing item tied to recent legislation that the district plans to bond.
The CHISAGO LAKES SCHOOL DISTRICT board voted to adopt a 10‑year long‑term facilities maintenance (LTFM) plan after a presentation from the district’s director of business services.
S2, the district’s Director of Business Services, told the board the district receives about $1.3 million in LTFM revenue annually (roughly $380 per ADM). About $420,000 of that is already committed to two LTFM bonds, leaving roughly $875,000–$880,000 before other set‑asides. After taking out approximately $240,000 reserved for health and safety needs, S2 said the…
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