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School board hears plan for up to $30 million in bonds to fund HVAC and capital work
Summary
At a public hearing, bond counsel and financial advisers outlined a plan to issue up to $30 million over two years to finance HVAC upgrades at East Chicago Central and other district projects; trustees approved preliminary resolutions to begin the process.
The School City of East Chicago board on April 28 held a second public hearing on a proposed lease-financing that could raise up to $30 million over two years to pay for capital improvements, with the first $20 million targeted for HVAC replacement at East Chicago Central High School.
"The proposal involves issuing up to $30,000,000 over the next 2 years to undertake significant HVAC improvements at Central High School," Jimmy Shanahan, bond counsel, told the board during the hearing. He said the plan would phase $20 million in the…
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