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Board approves authorization for up to $12 million lease‑rental borrowing through state authority
Summary
The Steelton‑Highspire SD board adopted a resolution authorizing lease‑rental debt with the State Public School Building Authority, setting maximum parameters for up to $12 million; officers were authorized to sign documents and staff outlined a timeline for credit review, SPB Authority approval, bond pricing and settlement.
The Steelton‑Highspire SD board voted to authorize a lease‑rental borrowing transaction with the State Public School Building Authority that sets maximum parameters at $12,000,000 and allows district officers to execute transaction documents.
The administration recommended adoption of the attached “option A” resolution, describing a structure in which the state authority would issue bonds, provide the district with a prepaid lease‑rental payment up front, and the…
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