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Rock Hill board authorizes up to $28 million in short-term SCAGO bonds for capital projects
Summary
The Rock Hill School District board approved a resolution permitting the issuance and sale of general obligation bonds under the SCAGO program not to exceed $28 million, with bond counsel explaining proceeds are restricted to capital items and the district—s 8% capacity.
The Rock Hill School District Board of Trustees voted Aug. 12 to authorize the issuance and sale of general obligation bonds under the South Carolina Association of Governmental Organizations (SCAGO) program not to exceed $28,000,000.
Bobby Barnes, who presented the item for the district—usiness services team, said the SCAGO program is a short-term financing tool historically used by the district. Bond counsel Franny Heizer of Burr & Forman described the legal framework and the district—s…
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