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School district could sell bonds to fund retirement benefits

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The District 192 School Board has cleared the way to sell as much as $12 million in bonds to cover the costs associated with paying health benefits for retired teachers.

In the past the district has paid those benefits on a year-by-year basis but federal General Accounting Standards Board rules that go into effect next year for ISD 192 mean the district will have to include in its financial statements an estimate of how much those benefits will cost the district.

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