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Monroe Local board renews up to $36.75 million in bond anticipation notes, adopts FY2026 appropriations and financial forecast
Summary
The Monroe Local School District board on Sept. 22 approved resolutions renewing and combining short-term bond anticipation notes (total up to $36.75 million), adopted FY2026 permanent appropriations and accepted a four-year financial forecast that shows growing deficits after 2029 if property-tax reform reduces local revenue.
The Monroe Local School District Board of Education voted Sept. 22 to renew short-term construction financing and adjust the district’s budget plan as trustees sought to limit tax pressure while covering near-term debt obligations. The board approved a series of resolutions authorizing the renewal of existing notes and the issuance of new bond anticipation notes not to exceed $36,750,000 in combined principal, and adopted permanent appropriations for fiscal year 2026 and the district’s updated financial forecast.
The board heard a market update from Andy Bursar of Barclays, who advised trustees that short-term interest rates have begun to fall, improving the district’s refinancing outlook. "In the last month and a half, we've really seen this accelerate downward," Bursar said, briefing the board on yield-curve…
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