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Upper Darby settles $45 million bond to continue Clifton Heights Middle School construction
Summary
District finance staff said the second of three planned issuances settled April 23, 2025; the par amount was about $43.89 million, and roughly $45 million was deposited to the construction account after premiums and issuance costs. Officials noted market volatility around the rate lock due to tariff-related market moves.
Craig Rogers, presenting the finance update to the committee, said the district completed the second of three planned bond issuances to support construction of Clifton Heights Middle School.
Rogers recapped the schedule: due diligence and draft preliminary official statement in late February, a Moody's rating interview on March 6, a board vote on a maximum-parameter resolution March 11,…
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