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Keystone Oaks board adopts debt ordinance to allow up to $38 million in bonds for school projects
Summary
The Keystone Oaks School District board adopted Resolution 02/2026 authorizing a maximum $38,000,000 bond issue (expected to be sized to deliver about $35,000,000 in proceeds) to finance Phase 1 capital work, including mechanical and infrastructure repairs; staff estimated new debt service at roughly $2.1–$2.2 million a year.
The Keystone Oaks School District Board of Education voted to adopt Resolution 02/2026, a debt ordinance under the Local Government Unit Debt Act that authorizes a maximum principal amount of $38,000,000 in bonds to finance Phase 1 work on district facilities and related infrastructure. The resolution includes a provision to size the final sale so it will deliver about $35,000,000 in proceeds to the district at closing.
The measure, discussed in public comment and then formally moved and carried on a roll-call vote, was described by a public speaker as a vehicle to…
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