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Board approves parameters for promissory note sales tied to $87M facilities project
Summary
Trustees approved two resolutions authorizing parameters for not‑to‑exceed $10 million general obligation promissory note sales (2025 and 2026 draws) as part of phased financing for the district’s $87 million facility project; staff said timing choices reduced interest costs.
The Sparta Area School District board approved resolutions establishing parameters for the sale of general obligation promissory notes to fund the facility project. District staff described the plan as a multi‑draw financing strategy for the $87 million project and said breaking the second borrowing into two draws helped secure a lower interest cost.
Finan…
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