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Perham-Dent school district borrowed $3.5 million last year

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William Shakespeare warned to never be a borrower or a lender.

But for the Perham-Dent Public School District, there's no choice.

District officials estimated that Independent School District 549 borrowed $3.5 million in "aid anticipation certificates" last year.

According to Superintendent Tamara Uselman, the school district borrows money because it lacks a fund balance to cash flow expenses.

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