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D.C. Everest board approves plan to defease portions of 2018 building bonds
Summary
The D.C. Everest Area School District board voted March 19 to authorize professional services and create an escrow to defease certain General Obligation School Building and Improvement Bonds, Series 2018 (dated July 2, 2018). The resolution passed 6–0 with one member absent.
The D.C. Everest Area School District board voted March 19 to authorize the transfer of funds, establishment of an escrow account and the redemption and defeasance of certain General Obligation School Building and Improvement Bonds, Series 2018 (dated July 2, 2018). President Lindsey Lewitzke moved the resolution and Shannon Grabko seconded; the motion passed by roll call, 6–0 with one member absent.
The resolution authorizes the district to engage professional services, deposit funds into an escrow account and carry out notice and redemption procedures tied to the Series 2018 bonds. Board materials presented the action as a debt-management step; the motion language in the minutes states the authorization covers professional services, transfer and deposit of funds, escrow establishment and redemption of defeased obligations. The board did not record additional financial figures in the public minutes.
The vote followed routine agenda items and was taken publicly by roll call. The resolution text and any related financial exhibits were included "as attached in the background" in the meeting materials. The board did not take additional public action on timing or the amount to be transferred during the open meeting.
