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District reports successful bond offering; finances and food services updates
Summary
The finance committee reported a successful bond offering—nearly $29 million in bonds and $20 million in bond anticipation notes—an A1 Moody's rating and a true interest cost of 3.326%; the committee also noted food-service improvements, including free student meals and an expanded high-school meal program.
The White Plains City School District’s finance committee told the board on June 8 that the district completed a successful bond offering, with the committee chair reporting nearly $29 million in bonds sold and $20 million in bond anticipation notes. The committee reported receiving 13 bids, attaining a true interest cost of 3.326%, and used premiums to reduce the effective offering to $26.6 million. The district’s credit rating was affirmed at A1 by Moody’s, the committee said.
The finance committee also reported operational updates from the district’s food services director, who said students receive meals at no cost and that the high-school snack program is being transitioned into a full meal offering in the late afternoon.
Committee speakers thanked district finance and administrative staff for their work on the offering; the meeting transcript attributes the finance summary to a committee speaker identified as Craig. The report did not include bond-related vote language at the board level during the June 8 meeting; it was presented as the committee’s update.
