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Wasatch County School Board authorizes parameters resolution to allow up to $35 million in bond refunding
Summary
The Wasatch County School Board approved a parameters resolution authorizing up to $35 million in general obligation refunding bonds as a preparatory step; officials said the district will only issue bonds if debt-service savings exceed issuance costs and market conditions are favorable.
The Wasatch County School Board on March 24 approved a parameters resolution authorizing the issuance and sale of up to $35 million in general obligation refunding bonds to refund outstanding district bonds, a preliminary step that keeps the district ready to refinance when market conditions yield taxpayer savings.
Matt Dougell, the district’s financial advisor, told the board the resolution sets maximum terms (principal, interest rate and term) and delegates authority to finalize terms to the business administrator, board president and a designated board officer so the district can act…
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