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Lewiston‑Porter board approves $11.15 million capital improvements bond resolution
Summary
The Lewiston‑Porter Board of Education adopted a bond resolution authorizing the Capital Improvements Project, 2024, with an estimated maximum cost of $11,150,000 and authorization to issue up to $10,500,000 in serial bonds; the measure passed 6–0.
The Lewiston‑Porter Board of Education voted 6–0 on Aug. 26, 2024 to adopt a bond resolution authorizing the Capital Improvements Project, 2024, at an estimated maximum cost of $11,150,000. The resolution authorizes the issuance of serial bonds up to $10,500,000 and directs that $650,000 be applied from the District’s Capital Improvements Reserve Fund, 2016, toward the project.
The resolution delegates bond sale and issuance powers to the Board President and cites provisions of the Local Finance Law governing issuance, bond anticipation notes and tax‑exempt obligations. The measure also authorizes the President to enter related continuing disclosure agreements and to take actions necessary to preserve federal tax‑exempt status under Section 103 of the Internal Revenue Code; the Board carried the motion to approve NA‑12 on a 6–0 vote (motion by President Danielle M. Mullen, seconded by Jack G. Waugaman III). The district materials describe the project as reconstruction, rehabilitation and renovations to various district buildings and sites, including health, safety, accessibility and code compliance work and energy performance components.
