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District projects modest multiyear reserves and explains two‑phase $135M bond strategy
Summary
Finance staff told the board the district split a $135 million bond into Phase 1 ($75M) and Phase 2 ($60M) to limit millage impact, reported a $36.2 million ending cash balance from the prior year, expects to eliminate a roughly $848,000 current‑year deficit, and projects a positive five‑year ending cash balance around $860,000 under current assumptions.
Finance staff reviewed the district’s five‑year forecast on Feb. 9 and explained why the bond program is phased. Officials said splitting the $135 million proposal into a $75 million Phase 1 and a $60 million Phase 2 reduces the millage asked of taxpayers now and times borrowing with project readiness and market conditions.
The presentation noted…
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