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Board hears plan for up to $30 million in financing to fund HVAC and capital work
Summary
At an informational public hearing, the board’s financial adviser described a proposed maximum financing package of $30,000,000 to fund HVAC upgrades at East Chicago Central High School and other systemwide capital needs; staff said proceeds would be issued in tranches and a subsequent meeting will include resolutions for consideration.
The School City of East Chicago board heard an informational public hearing April 14 on a preliminary plan to enter a lease or issue bonds to finance capital projects, including HVAC work at East Chicago Central High School.
"The maximum amount of the proposed financing, which is $30,000,000, is to finance HVAC improvements at Central and also various other improvements throughout the school system…
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