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Lockport Township High School District 205 board approves $16 million bond parameters for Central Campus work; Moody's rates district AA1
Summary
The board approved a parameters resolution to issue $16,000,000 in life-safety debt to fund final Central Campus improvements under the district's 10-year facilities plan; Moody's assigned an AA1 rating, McBride said.
The Lockport Township High School District 205 Board on May 18 approved a parameters resolution to issue $16,000,000 in bonds to fund final improvements at Central Campus under the district's 10-year facilities master plan, Superintendent Bob McBride said.
"We will use that $16,000,000 in revenue generated through debt, low debt, life safety debt, to make our final improvements this summer on Central Campus," McBride said, describing the bond as a key component of the district's facilities plan. He said the measure is intended to keep the district in a strong financial position.
McBride also reported that Moody's assigned the district a AA1 rating — the second-highest grade — which he said reflected planning and stewardship and should signal to banks that the district is a good investment.
The board approved the parameters resolution as part of ongoing facilities planning; the transcript did not report a vote tally or further financing details such as interest rate or issuance schedule.
