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Board approves COP/site-lease with Bank of Colorado to fund Pioneer safe entry, courts and playgrounds
Summary
The Morgan County School District No. Re-3 Fort Morgan board approved a resolution authorizing a certificate of participation/site-lease with Bank of Colorado to borrow up to $2.5 million (targeting $2.2 million) to fund projects including a Pioneer safe entry upgrade, basketball courts and playgrounds; roll-call votes recorded unanimous approval of members present.
The board approved a resolution to enter a certificate-of-participation/site-lease agreement with the Bank of Colorado to secure borrowing for district capital projects.
Speaker 11 presented the financing plan and said the COP would use Pioneer as collateral to borrow up to $2,500,000 with the district currently planning for roughly $2,200,000. "It's a resolution from the…
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