JEFFERSON TWP -- The Russian invasion of Ukraine may temporarily put the brakes on the ability of the South Butler County School District to attain bond financing for its upcoming renovation project.

Alisha Reese Henry, of PNC Capital Markets, told the board at its Wednesday meeting that she will access the market Tuesday in an effort to sell the approximately $33 million in bond financing needed to complete the large renovation project.

But because of the war in Ukraine, investors have decided to sit on cash or wait on the sidelines instead of investing in bonds due to the uncertainty created by the volatile situation, she said.

“I assure you we are going to do our best to sell your bonds next Tuesday, but we’re not going to sell your bonds at rates that are not fair to the school district,” Henry said.

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