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Schuyler County Schools Issued Tax-Exempt Bonds for Upgrades

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Two Schuyler County school districts will share in the millions of dollars in low-cost, tax-exempt bonds that public schools in the Southern Tier were issued by the state.

Projects supported by these bonds include classroom additions and renovations, athletic field improvements, energy efficiency upgrades, and safety enhancements.  Of the $171 million issued to the Southern Tier schools, Odessa-Montour received $12.1 million and $925,000 went to Bradford school.

The low-cost, tax-exempt bonds were issued in June through the Dormitory Authority of the State of New York on behalf of 69 school districts across New York State.

The 69 public school districts that participated in DASNY’s June financing are located throughout the State. Barclay Damon, LLP and BurgherGray, LLP were Co-Bond Counsel to DASNY. The bonds were sold using a syndicate of managers, with Raymond James as the Lead Manager and Roosevelt & Cross Incorporated and RBC Capital Markets as Co-Lead Managers. Yields on the bonds ranged from 2.99 percent to 4.29 percent, with an overall average True Interest Cost of 3.58 percent.

“Helping our students thrive means giving them the tools, the facilities, and the infrastructure they need to succeed in the classroom,” Governor Kathy Hochul said. “With this financing, my administration is funding critical capital projects that will give our young people a learning environment that inspires, challenges, and motivates them, while making it more affordable for taxpayers in these districts all across New York State.”

DASNY President & CEO Robert Rodriguez said, “DASNY is proud to support school districts by providing low-cost financing. The capital projects supported by DASNY financing can be used to enhance learning environments and provide the best opportunities possible for our students all across New York.”

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