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Polk school board approves form to seek up to $305 million in certificates of participation
Summary
The Polk County School Board voted unanimously to approve forms authorizing the potential issuance of certificates of participation within parameters that set a maximum principal of $305 million, a 4.75% maximum interest rate and a Jan. 1, 2046 maturity; final amounts will return to the board for approval.
The Polk County School Board on March 24 approved, "as to form," a financing resolution that authorizes district officials to move forward with legal documents needed to issue certificates of participation within set parameters.
Bond counsel Mike Weiner of Holland & Knight told the board "the resolution before you is very similar to all of the prior financings that the district has done," and said the documents authorize certificates of participation with a maximum principal amount of $305 million, a maximum interest rate of 4.75% and a maximum maturity date of Jan. 1, 2046.…
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