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Radnor committee reviews plan to issue bank‑qualified bonds for Ithan Elementary
Summary
The Radnor Township School District finance committee heard a presentation from financial advisers about a planned, bank‑qualified bond issuance (under $10 million) as phase three of the Ithan Elementary financing; a parameters resolution will be available Oct. 28 and bond counsel will attend to finalize timing.
Radnor Township School District finance staff and outside advisers presented a plan this week to issue a bank‑qualified municipal bond as the third phase of financing for the Ithan Elementary project. The proposed issuance is expected to be “a little under $10,000,000,” staff said, and would be structured to preserve bank‑qualified status while a parameters resolution that authorizes up to $12,000,000 in principal will be offered for board approval.
Zach Williard of PFM told the committee the district had previously issued about $9.4 million in 2023 and roughly $9.8 million in December 2024 to start the project. He described current market conditions as…
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