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Mount Pleasant Area SD board authorizes not-to-exceed $11.385 million bond to fund projects
Summary
After presentations from PNC Financial and bond counsel, the board approved a not-to-exceed $11,385,000 resolution to authorize potential bond financing, with presenters outlining three financing scenarios and federal tax-law timing constraints for spending proceeds.
The Mount Pleasant Area School District board on Jan. 7 approved a resolution authorizing a not-to-exceed $11,385,000 bond to fund district projects, following a presentation from financial adviser Alicia Henry of PNC Financial and bond counsel Chris Brewer of Dinsmore and Shoal.
Henry outlined three financing scenarios the district has considered, estimating annual budget impacts in the scenarios at roughly $300,000 and $400,000 and describing a third illustration based on $10,000,000 in maximum proceeds. She told the board…
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