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North Penn committee advances parameters for $60M high-school bond, sends $70M debt resolution to March 19 action meeting
Summary
The finance committee heard a PFM presentation on financing for the high-school renovation and voted to move a parameters debt resolution (maximum $70 million; max rate 5.5%) to the March 19 action meeting for formal consideration. The district expects to borrow about $60 million in this step.
The North Penn School District finance committee on March 3 heard a presentation from Zach Willard of financial adviser PFM outlining plans to borrow roughly $60 million as part of a multi‑step financing for the district’s high‑school renovation and related capital needs.
Willard described the parameters resolution that administration will bring to the full board on March 19: the resolution establishes a pricing ‘box’ that would allow a maximum aggregate principal amount of $70 million and a not‑to‑exceed interest rate of 5.5 percent so that staff can finalize sale details on an appropriate…
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