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Public Hearing - Union County Public Schools General Obligation 2024 Bond Referendum
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INFORMATION CONTACT:
Beverly Liles, Finance, Finance Director, 704-283-3675
ACTION REQUESTED:
Conduct Public Hearing.
PRIOR BOARD ACTIONS:
1) June 17, 2024, Regular Meeting, Agenda Item #24-389 - Introduced Bond Order Authorizing the Issuance of $39,425,000 General Obligation School Bonds of the County of Union, North Carolina and adopted the Resolution of the County of Union, North Carolina regarding Bond Order authorizing the issuance of $39,425,000 General Obligation School Bonds, Setting Public Hearing for July 15, 2024, and Directing Publication of Notice of Said Public Hearing.
2) May 20, 2024, Regular Meeting, Agenda Item # 24-344 - Adopted the Resolution Directing Publication of Notice of Intent to Apply to the Local Government Commission and adopted the Resolution making certain statements of facts concerning the proposed school bond issue and authorizing the application to the LGC for $39,425,000 of general obligation bonds.
3) May 6, 2024, Regular Meeting, Agenda Item # 24-290 - Authorized staff to move forward with the necessary steps for a 2024 Bond Referendum for Union County Public School to fund design of a new high school to be known as Parkwood High School and the design and renovation of converting the current Forest Hills High School into a middle school to be known as East Union Middle School in the amount of $39,421,448.
BACKGROUND:
Union County Public Schools has requested a bond referendum be placed on the November 2024 election ballot. The bond referendum will be to fund the design of a new high school to be known as Parkwood High School and the design and renovation of converting the current Forest Hills High School into a middle school to be known as East Union Middle School.
FINANCIAL IMPACT:
The estimated cumulative cost over the life of the bond, using the highest interest rate of 5.344% charged for similar debt over the last...
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