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Tuscola BOE approves issuing bonds for repairs

By Kendra Hennis
The Tuscola Board of Education called a special meeting to order on Thursday, January, 27 at 5 p.m. for the purpose of discussing possible bond issuing. A representative from First Midwest Bank came to discuss the terms with the board, which included a closing date of February 10, 2022 and the agreement that the first $9 million would be spent on projects in the next three years. He explained that this is the final step in the board’s process for bonds following their letter of intent and petition period which have been completed. Following, the board unanimously approved a resolution providing for the issue of Taxable General Obligation School Bonds, Series 2022A, and General Obligation School Bonds, Series 2022B, of the District, for the purpose of paying claims against the District, providing for the levy of a direct annual tax sufficient to pay the principal and interest on said bonds, and authorizing the sale of said bonds to purchaser thereof. With no further discussion, the board adjourned from the meeting at 5:22 p.m.

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