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Board hears bond‑sale and debt service update; 2025 B sale came at 2.46% with JPMorgan awarded
Summary
Financial adviser told the board the district's 2025 B bond sale priced at 2.46% and raised $30 million for capital projects; advisor explained LGIP mechanics, arbitrage rebate exposure, and how the 2018 $365 million referendum left $33.5 million unissued.
The board received an in‑depth briefing on district debt, recent bond sales and the district’s debt‑service levy. Financial adviser Mike Gallagher presented historical context and specifics of the February 2025 B sale: the winning bid was placed by JPMorgan and the sale priced at 2.46 percent. Gallagher outlined how proceeds were allocated: approximately $30 million for capital projects and smaller amounts to satisfy installment purchase revenue bond payments from 2013 and 2015 issuances.
Gallagher explained how the…
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