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Alma board authorizes filing for 10-year second-lien bond, raises 'do not exceed' amount to $3 million
Summary
The Alma School District board voted to file for a 10-year second-lien bond to fund partnership facility projects (roofs, electrical and plumbing) and amended the application to a $3,000,000 "do not exceed" amount so the district can accommodate playground and other upgrades pending final bids.
The Alma School District Board of Education voted to file an application to issue a 10-year second-lien bond to finance the district’s share of partnership facility projects and amended the resolution to set a $3,000,000 "do not exceed" limit.
District administrators recommended the second-lien option on page 23 of the packet, saying it would fund roofing, electrical and plumbing for partnership projects and allow the district to obtain a state funding allocation in May. A district presenter told the board the state estimate to update HVAC across schools is $14,000,000, with…
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