School Board Moves Ahead with Bond Issue for High School
On Monday, August 12, the Board gave direction to the financial advisor and bond counsel to proceed to bid on an anticipated $33 million debt issue to fund the remaining costs of the high school renovation project. The bonds were directed to be wrapped around existing debt so that the millage cost to the community will be minimized as the debt payments implement over a three year period. It is anticipated that the increase in millage will be below .2 mills each of the next three years to complete this financing. Board approval of the sale of these bonds is anticipated at the August 19, 2013 Board meeting.
The bond analysis has finally been shared with the public and can be found here. Debt Profile