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August 26, 2014

Grandview School District mishandled bond projects, state audit says

The audit found that the district failed to carry out an agreement with a Bank Midwest that was supposed to provide services, such as student internships, under one bond program provision that allows for federal tax credits in lieu of cash interest payments. The district also used some $117,000 in bond proceeds to buy uniforms for sports, band and choir — purchases that aren’t allowed under bond program restrictions. There was also a conflict of interest with an underwriter.

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