Dexter Community Schools continue with the 2017 voter-approved bond

Dexter Community Schools are issuing the second series of financing from the 2017 bond as it looks ahead to address other improvements, which voters approved.

This second series will focus on things such as infrastructure, buses, technology and equipment.

At its Nov. 7 meeting, the DCS Board Of Education voted to approve the resolution authorizing the 2023 School Building and Site Bonds for financing the projects approved by voters on August 8, 2017.

In her report to the school board, Sharon Raschke, DCS Chief Financial Officer, said:

“The 2017 Bond Proposal was approved by voters on August 8, 2017. To gain maximum benefit from the voter authorized 2017 Bond Proposal, we planned to issue the bonds in two or more series. The first series was issued November 28, 2017 and provided $50,605,000 principal amount. We have accomplished the first series of the planned projects.”

“We are requesting authorization to issue the second series of bonds authorized pursuant to the 2017 Bond Proposal. The principal amount will not exceed $17,770,000. The funds will provide for planned infrastructure, buses, technology, and equipment for the next 3-5 years. The issue will be designated as the 2023 School Building and Site Bonds. This will conclude our authorization pursuant to the 2017 Bond Proposal.”

“Attached is the resolution prepared by our Bond Counsel, Alan Szuma and Amanda VanDusen with Miller, Canfield, Paddock and Stone, PLC.”

“An appropriate motion would be “I move that the Board of Education authorize the resolution authorizing the 2023 School Building and Site Bonds for financing the projects approved by voters on August 8, 2017.”