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Hiawatha School Leaders Proceed With Bond Sale

By Greg Bebermeyer/Brian Hagen

04/17/2015

(KNZA)--Following last week’s approval of a $9.2 million bond issue to fund improvements to Hiawatha schools, the Board of Education, during a special meeting Friday morning, approved resolutions authorizing the sale of the bonds.

Dustin Avey with Piper Jaffrey says the bond sale is set for May 11th, and believes the interest rate for the bonds will be better than expected. “I think 3.25% was our initial projection, [but] I think we're going to be below 3% based upon current market rates,” Avey tells MSC News. “We'll take bids on the bonds at 11:00 on the 11th”, [then] at the meeting on May 11th, the Board will be presented with the final results of the bond sale and will adopt the resolution awarding the bonds to the winning bidder.”

The bonds are to be paid back over a 15-year period.

In other business, Superintendent Penny Hargrove said the Board approved letting out school one day early.

The last day of school for this school year had been scheduled for May 21st, which was to be a half-day for students. Hargrove says the last day of school will now be May 20th.

She said the change is necessary due to all the additional annual training being required for teachers and staff.

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