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Bay Shore board approves $11.875 million serial bonds and $44.5 million revision to cover settled CVA claims
Summary
At a work session the Bay Shore Union Free School District board approved awarding $11,875,000 in serial bonds and authorized a $44.5 million general‑fund budget revision to pay settled CVA claims; budget staff also reviewed the five‑year capital plan and an energy performance contract timeline.
The Bay Shore Union Free School District board voted to award $11,875,000 in serial bonds to FHN Financial Capital Markets and to authorize a $44,500,000 general‑fund budget revision to pay settled CVA claims, the board confirmed at a work‑session meeting.
Board staff presented the bond award on the consent agenda and recommended approval; the motion to award the bonds carried by voice vote. The presentation explained the issue was resized from an originally posted amount because of a large premium, producing a lower effective yield after resizing (presenter noted yields…
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