(KNZA)-- The Hiawatha school district has received good news following its $9.2 million bond sale to finance improvements to the districts schools.
Superintendent Penny Hargrove told the Board of Education Monday evening that the interest rate for the bonds came in lower than anticipated at 2.3 percent.
Hargrove says its a “ pleasant surprise” and will result in a savings to taxpayers with a lower mill levy requirement.
USD 415 voters during the April 7th general election approved the bond issue.
Bids were also taken to refinance the outstanding bonds issued in 2005 to fund the construction of the middle school, and the low bid also came in lower than expected at 1.3 percent.
Hargrove says that will result in savings to taxpayers of nearly $49,000 and not extend the life of the bonds, which are to be paid off in 2018.
The Board adopted resolutions authorizing the sale of the refunding bonds and the new bonds.
Country Club Bank in Kansas City in association with Hiawatha’s Citizen’s State Bank and Trust Company was the low bidder on both series of bonds.
© Many Signals Communications
MOST VIEWED STORIES
Effingham woman killed Friday in Atchison wreck
One hospitalized, one jailed, after Atchison attack
Atchison man involved in fatal NW MO crash
One injured in Nemaha Co wreck
Rural Horton man arrested on multiple drug charges
Street lights to be discussed at Monday city meeting
Meteorologist Spencer: Geometric Watch means electronic disruptions
Two file to challenge local legislator
USD 430 Board accepts resignations, approves new hires
Services set for Effingham woman killed in crash
Truck fire at CGB facility in Falls City
BC's Pate remembered by students, college family
Flags to fly half staff Wednesday across KS
U.S. 36 work in Doniphan Co to impact motorists
Moran works for Mayetta veteran's recognition
Chiefs' Butker named Keynote Speaker for BC Commencement
Sheriff: phone call promises of free money is a scam
LATEST STORIES
Commission holds work session on street lights
Results from SE Nebraska contested Primary Elections
U.S. 36 work in Doniphan Co to impact motorists
Senator Ricketts staff to visit Falls City and Auburn
Richardson County Sheriff provides updates to Commissioners
Services set for Effingham woman killed in crash
Marshall Co Commissioner files for re-election