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Valley Central board approves $10.37 million capital project, authorizes $6.63 million in bonds
Summary
The Valley Central School District board approved a capital project estimated at up to $10.37 million and authorized issuing $6.63 million in serial bonds to fund it, passing the resolution by roll call at the June 8 meeting.
The Valley Central School District board approved a resolution authorizing building and facility improvements with an estimated maximum cost not to exceed $10,370,000 and authorized issuance of $6,630,000 in serial bonds to pay the costs.
Christina, the district official introduced by the chair to present the financing, described the project and asked for board approval. A motion was made and seconded; the board then conducted a roll-call vote and the resolution passed.
During roll call the board recorded six affirmative votes and one absence. The resolution text presented to the board specified the estimated project maximum and the amount of serial bonds to be issued; the record shows the board approved the financing as presented.
The board did not discuss detailed line-item allocations in public at the meeting. The superintendent and staff noted the project will fund improvements to district buildings and facilities; further administrative details and timelines were not specified and will be communicated by district staff as planning progresses.
The board moved into executive session after completing this and remaining agenda items; the motion to convene executive session was approved and no additional business was conducted that evening.
