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Board awards $20.6M LTFM bond to TD Financial at 3.50% interest; staff says sale fits capital plan
Summary
Trustees accepted sale results and awarded a $20.6 million LTFM bond to TD Financial (low bid, 3.50% tax-exempt rate, 11-year term). Staff said the proceeds fit the district's long-term capital plan and the debt schedule aligns with the May referendum tax impact discussed with voters.
The Lakeville Area Schools board approved a resolution to award a $20,600,000 LTFM bond sale to the low bidder, TD Financial, at a 3.50% tax-exempt interest rate and an approximately 11-year term.
Shelby McCoy of Ehlers presented the sale-day report: seven bids were received, market conditions produced variance from the…
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