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Farmington ISD 192: Intent to Issue Facilites Maintenance Bonds

Wednesday, April 24, 2019 - 6:09pm

EXHIBIT A
NOTICE OF INTENT TO ISSUE FACILITIES MAINTENANCE BONDS
TO FINANCE PROJECTS INCLUDED IN THE DISTRICT'S
TEN-YEAR FACILITY PLAN
INDEPENDENT SCHOOL DISTRICT NO. 192 (FARMINGTON)
STATE OF MINNESOTA

NOTICE IS HEREBY GIVEN that the School Board of Independent School District No. 192, State of Minnesota (the "District"), adopted a resolution (the "Resolution") on April 22, 2019, stating the intention of the School Board to issue general obligation facilities maintenance bonds (the "Bonds") in the total principal amount of not to exceed $10,000,000 pursuant to Minnesota Statutes Section 123B.595 and Chapter 475, as amended. The proceeds of the Bonds will be used to fund the costs of the following projects at the District's facilities as included in the District's approved ten-year facility plan and related financing costs:
deferred maintenance including replacing a boiler system
The total amount of District indebtedness as of April 22, 2019, will be $178,805,000. If these proposed Bonds were issued after the date, the total indebtedness of the District at that time would be $188,805,000.
Dated: April 22, 2019
BY ORDER OF THE SCHOOL BOARD
/s/_______________________________________
School District Clerk
Independent School District No. 192 (Farmington)
State of Minnesota
04/25/19


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