Board approves $4.1 million bonds
The Park Rapids Area School Board has approved the sale of $4,155,000 in General Obligation Aid Anticipation Certificates in order to meet current expenses to cover a cash flow deficit.
The cash flow deficit comes from a 60-40 state funding shift to K-12 schools. Districts will receive 60 percent of this year's funding with a "promise" of 40 percent the following year.
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