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District outlines $55M facilities financing plan and weighs levy options after defeat
Summary
Municipal adviser Heather Arling presented the district's financing plan for the facilities project, including $26.63M in GO bonds and $28.7M in COPs, use of OFCC rebates and an OMAP credit wrap; the board discussed substitute, emergency and operating levy timing and scheduled a finance work session.
Yellow Springs Exempted Village school officials detailed the financing package for the district's planned facilities project and discussed near-term levy options after a recent ballot defeat.
Heather Arling of Railey Bean Advisors, the district's municipal adviser, told the board the financing combined a $26.63 million general obligation bond and roughly $28.7 million of certificates of participation. "My name is Heather Arling of Railey Bean Advisors, and I am the municipal adviser to the district, which means that I have a fiduciary responsibility to the district to ensure the lowest cost of borrowing funds or…
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