By Chris Wack
The Local Building Authority of Park City School District, Utah, will sell $38 million in Lease Revenue Bonds to finance construction and modernization projects at Park City High School.
The District will offer the Series 2025 Lease Revenue Bonds, according to a preliminary official statement posted Friday on MuniOS. The bonds will mature on March 15 of every year, from 2026 through 2045. Interest rates and yields have not yet been set.
The bonds are secured by annually renewable lease payments to be made by the Board of Education of Park City.
The Local Building Authority of Park City School District was created in 2021 as a nonprofit corporation for the purpose of buying, improving or extending one or more projects and financing their costs on behalf of the school board.
Proceeds will be used to finance all or portions of land improvements at Park City High School, which include construction and/or renovation of athletic fields and support buildings.
The bonds are rated Aa1 by Moody's.
Stifel, Nicolaus is the lead underwriter of this deal.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
March 17, 2025 10:45 ET (14:45 GMT)
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