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Dorchester 2 board approves up-to-$37.5 million bond resolution, outlines $56 million plan for referendum projects
Summary
The Dorchester School District 2 board approved a resolution authorizing up to $37.5 million in general obligation bonds to fund first-year capital and technology projects and discussed plans to use a $56 million bond-anticipation note to begin referendum projects; the measure passed 7-0.
Dorchester School District 2 trustees voted unanimously Aug. 12 to approve a general obligation bond resolution authorizing the issuance and sale of "not exceeding $37,500,000" to fund the district's first year of capital projects, equipment payments and technology costs.
The resolution, presented to the board by finance staff (Ms. Beignet), covers equipment acquisition payments, installment purchase revenue bonds and an allocation of the district's 8% capital projects funds. "This is for not exceeding $37,500,000," Ms. Beignet said during the presentation.
Why it matters: the bond will finance projects already laid out in the district's capital plan…
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