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Phoenix Elementary District board approves cash sale of plant services site with two-year leaseback
Summary
The Phoenix Elementary District (4256) board voted to accept a cash offer to sell its plant services property at 1st Street and Grant, including a two-year leaseback; leaders said proceeds preserve bond dollars and allow construction of a modern replacement facility.
The Phoenix Elementary District (4256) Governing Board voted to accept a cash offer to sell the district’s plant services property at 1st Street and Grant and agreed to remain on the site under a two-year leaseback while a new facility is built.
Board President Carmen Trujillo said the sale preserves the district’s bond capacity because, under Arizona school finance rules, the district cannot use bond dollars for non-student…
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