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West Bend board approves parameters for up to $26.25 million bond sale to fund referendum projects
Summary
The West Bend School District board on Dec. 8 adopted a parameters resolution authorizing sale of up to $26,250,000 in general obligation promissory notes, setting an interest cap of 4.75% and a repayment layering that runs to 2036; administration expects to market the notes in January.
The West Bend Joint School District No. 1 board on Dec. 8 approved a parameters resolution allowing the administration to pursue the sale of up to $26,250,000 in general obligation promissory notes tied to projects approved in last month’s referendum.
Assistant Superintendent Lenny Hanson told the board the parameters document fixes key limits for the sale, including an interest-rate cap: “The interest rate cannot exceed 4.75%.” He said the notes will be structured to run about 11 years to 2036 and will be…
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