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Millbrae board authorizes $30 million Measure J Series A, directs staff to pursue bond refunding
Summary
Trustees authorized staff to move ahead with a $30 million first series issuance under voter‑approved Measure J and approved a related resolution to pursue refunding of callable bond maturities to reduce interest costs; the board also approved a crossing‑guard MOU and school accountability report cards.
The Millbrae Elementary School District Board of Trustees on Feb. 3 authorized staff to proceed with the first series (Series A) issuance under Measure J and approved a related refunding resolution to pursue lower interest costs on certain callable maturities.
Blake Boerum of KNN Public Finance told trustees that voters approved Measure J for up to $95,000,000 and that the Series A par amount is structured at $30,000,000 as the initial draw. "Just as a reminder, voters approved that $95,000,000 under Measure J with a maximum tax rate of $30 per $100,000 of assessed value," Boerum said during the presentation outlining assumptions and a…
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