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Clayton board reviews draft bond language as staff outlines $105'$130 million Phase 1 cost range
Summary
Board reviewed draft bond resolution and ballot language; staff and bond counsel described a phased borrowing approach to preserve capacity and keep the proposal at a zero tax-rate-increase posture while presenting preliminary Phase 1 project ranges of $105'$130 million.
The Clayton School District board reviewed draft ballot language for a potential bond election and considered how to structure borrowing so the district can fund priority facility projects without raising the debt-service rate. John Bridal, the district's chief financial officer, said the district is working with bond counsel Gilmore & Bell and financial adviser Piper Sandler to shape a proposal that would preserve borrowing capacity for future phases.
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