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New Albany-Floyd County Schools approve lease and about $19.5 million in bond-related appropriations
Summary
The school board unanimously approved a lease-financing resolution and related bond actions to fund building renovations and equipment, including an additional appropriation estimated at about $19.5 million. The measures clear legal and disclosure steps needed before bond sale.
The New Albany-Floyd County Schools board unanimously approved a resolution authorizing a lease agreement with a building corporation and adopted an additional appropriation estimated at about $19,500,000 to fund renovation and construction projects.
Bond counsel explained the financing structure during the public hearing, saying, “These financing are used by school corporations across the state of Indiana in order to borrow for renovation and construction,” and that the building…
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