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Burlington board votes to issue PPEL notes, choosing larger levy option to fund auditorium and Aldo work
Summary
The Burlington Community School District voted Aug. 25 to issue PPEL notes borrowing against the full $1.34 levy (option 2), authorizing approximately $7.1 million in notes to help fund auditorium renovations and work at Aldo Intermediate; the board directed staff to seek bank proposals and close before year end.
The Burlington Community School District board voted Aug. 25 to borrow against the full $1.34 PPEL levy, authorizing notes of roughly $7.1 million to help fund renovation of the high‑school auditorium and projects at Aldo Intermediate. The motion to pursue the second financing option passed after a presentation from Tim Oswald of Piper Jaffray and discussion about costs, risks and timing.
Tim Oswald, who advised the district on its plan of finance, told the board the district had two primary options: borrow against the voter‑approved 67¢ portion only (about $3.5 million) or borrow…
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