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Board hears finance update: district debt service projected to more than double as construction proceeds
Summary
Board members were briefed on fund balances, tax and borrowing scenarios tied to three building projects and the 'Schools of Distinction' initiative; administrators reported current debt service near $11.7 million annually and projected it could exceed $26 million per year once new borrowings are added.
At the August meeting, board leaders and district finance staff outlined a multi-year financing picture tied to the district—s building plans and the "Schools of Distinction" initiative.
One presenter summarized current debt service at about $11.7 million per year and told the board that after borrowing for three planned buildings the annual debt service could exceed $26 million, based on April figures that assumed roughly $200 million in borrowing. The speaker framed the projection as a challenge for…
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