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Paynesville Press - June 23, 2004

School board approves sale of general obligation bond

By Michael Jacobson

The Paynesville Area School Board held a brief special meeting on Thursday, June 17, at 8 a.m.

*The board approved offering the sale of $1,915,000 in General Obligation Aid Anticipation Certificates of Indebtedness through Ehlers and Associates, the district's financial advisor. Each year, the district borrows money, to be repaid by future aid, for cash flow purposes.

Ehlers and Associates now will solicit proposals from possible lendors and bring those bids back to the board for approval.

This was the only item of business at the special meeting.

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