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District closes tactical taxable GO bond to reimburse operations fund
Summary
District staff described a taxable general-obligation bond sold in two series to reimburse operations expenses from prior years, reporting roughly $1.2 million in eligible costs and that funding was received on Aug. 6 via a private placement to two banks.
District staff reported the closing of a tactical taxable general-obligation bond structured to reimburse past operations expenses.
Staff member (S2) said the district "came up with over 1,200,000" in eligible costs and that funds were received on Aug. 6. The bond sold in two series (described as an 'a' and 'b' series) and was placed directly with select buyers through a private placement; S2 named Hancock County Bank among purchasers.
