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Piper Sandler presents 'Bonds 101'; consultant says district well under constitutional debt cap, could consider issue around 2027
Summary
A Piper Sandler consultant briefed the Kirkwood R‑VII board on general‑obligation bonds, lease purchases, levy management and methods of sale, saying the district is under Missouri's 15% constitutional capacity and that a no‑tax‑rate‑increase bond could be feasible in the 2027–2028 window; no decisions were made.
Brent Blevins of Piper Sandler gave a detailed informational briefing to the Kirkwood R‑VII School Board on how general‑obligation bonds and lease purchases work, what drives investor interest, and how districts structure long‑range financing.
Blevins explained the difference between constitutional bonding capacity and affordability, and said the district is well below Missouri’s 15% constitutional bonding cap. He described common uses for bond proceeds (renovation, construction, land, fixtures) and emphasized that bond proceeds cannot be used for operating expenses such as teacher salaries. He also…
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