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Board receives plan to issue $33.8M facilities bonds and to evaluate possible refunding
Summary
Finance staff and advisors told the school board the district plans to issue $33.8 million in facilities-maintenance bonds and will monitor markets through May to determine whether refunding existing bonds is feasible to lower future levies.
The Rochester Public Schools board received a first reading on a resolution of intent to issue $33,800,000 in general-obligation facilities-maintenance bonds on April 7 and was briefed on a possible parallel refunding to lower future debt service if market conditions permit.
Director of Finance Andy Crockstead and bond advisor Aaron Bushberger explained the four-part resolution: authority to sell…
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