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William Penn SD advisers say up to $13.3M in borrowing likely; debt service to rise in 2026-27
Summary
PFM consultant Melissa told the William Penn School District board the district's maximum capital-borrowing need is about $13.3 million, a ceiling organizers said, and that slower project draws and grant receipts improve the district's position even as debt service will increase in fiscal 2627.
PFM consultant Melissa told the William Penn School District board on Wednesday that the district's potential long-term capital-borrowing need is about $13.3 million, which she described as a ceiling rather than a required amount.
"Current rates are just slightly below historic averages, which is excellent," Melissa said while reviewing tax-exempt borrowing indexes and the district's recent financing history. She said interest rates are a bit lower than when the district last borrowed and that the district has used a mix of short-term cash-flow borrowing, a lease/leaseback through the William Penn School District Authority, and long-term capital borrowing.
Melissa walked the board through a simplified draw schedule for financed projects and the district's portfolio, saying the…
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