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Board: $20M bond sale will fund campus projects; stadium completion expected in December
Summary
District staff told trustees the district sold just over $20 million in bonds for facilities projects, cost of issuance came in far below estimates, and officials reiterated stadium construction is expected to finish in December, making it unavailable for this sports season.
District finance staff reported the district sold "just over $20,000,000" in bond proceeds this summer to fund facility projects, and noted the cost of issuance was materially lower than projected.
"What we had predicted was the cost of issuance was gonna be about $238,000. It actually came in we were expecting 261,000. It came in at 132,000," Dr. Weimer said, crediting strong bond ratings and market interest for the lower fees.
Weimer reit…
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