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Board reviews $30M in bond proceeds, approves monthly finances and dropout-prevention funding
Summary
Board members reviewed placement of $30,000,000 in recent sales-tax bond proceeds and discussed a projected $750,000 budget shortfall tied to roughly 90 fewer students; the board approved the monthly financial report and a MAGDOP (dropout-prevention) funding allocation, both by unanimous voice vote.
Board finance presenters told the Indianola Community School District board the district recently received $30,000,000 in sales-tax bond proceeds. According to the discussion, approximately $25,000,000 was placed in a district fund described in the packet as an 'ISJET' fund and about $5,000,000 was held at Peoples Bank.…
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