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Lakeland Explores Budget Options
By: Tim Murray - Monday, December 16, 2019


(LAGRANGE) - The Lakeland School Board heard two presentations this past week as it explores options for shoring up its budget.

The presentations were only informational and the board took no action.

Luke Bruggeman of bond consultant Stifel gave the board an overview of its debt service rate and the impact of a potential $3.1 million bond and a $1.2 million bond.

Those bonds would not increase the debt service levy from current levels because some previous debt is being retired. He also said a bond could only be used for capital projects.

An additional operations levy raising $1.5 million per year would require a referendum. It would cost the owner of a home assessed at $100,000 about $57 a year. For a $250,000 home the increase would be $227 a year.

The Board took the information under advisement.

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