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Edina board ratifies $278,000 in projected savings from refunding sale; discusses policy updates on instructional materials, surveillance and notifications
Summary
On Feb. 9 the Edina Public Schools board ratified the sale of general obligation facilities maintenance refunding bonds, series 2026A, following a competitive sale and a Moody’s credit‑rating affirmation. The board also discussed updates to policies on board officers, instructional materials, video surveillance and staff notification; those policies will be returned for action in March.
The Edina Public Schools board ratified a public sale of general obligation facilities maintenance refunding bonds, series 2026A, at its Feb. 9 meeting after a presentation from Director of Finance and Operations Director Woodard.
Woodard said municipal advisors ran a public sale on Jan. 28 with 15 bidders. The low bid came from JPMorgan Securities at a true interest cost of 2.2439 percent, generating projected future debt‑service savings of about $278,000, above the board’s minimum threshold of $150,000. "That is not new money for the school district to spend," Woodard said. "It's a direct savings to taxpayers." Moody’s maintained the district’s credit rating and…
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