The Butler Area School Board is considering a plan to issue bonds in order to finance capital improvement projects.
During a school board meeting Monday, the board approved a motion to retain an Investment Banker and a law firm to operate as Bond Council for the purpose of structuring, marketing, approving and issuing Capital Project Bonds.
The board could choose to borrow up to $10 million and still have the same debt service payments that they currently do as the new debt would fill in spots where the previous debt payments would have decreased. The board has not yet approved any financing and the move to retain a banker and council does not cost the district at this point.
New Superintendent Dr. Brian White plans to take a closer look at a list of capital projects the district will need over the next several years and get more information about cost. It will take several months of set up and getting necessary approvals before the board will need to make a decision about the bonds.
Written By: Ryan Saeler for the Butler Radio Network
