(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
Wanted felon arrested in Hiawatha
St. Joseph teacher arrested for student sex crimes
Revised flood predictions along the MO River
Valuation change notices coming soon for Nebraska residents
Lancaster shooting, threats, land man in jail
Four injured in Richardson Co rollover crash
Ozawkie man facing multiple child sex charges
Public health advisory issued for local lake
Case dismissed in charity fraud allegations
Sabetha man arrested on drug charges
4th candidate files for local KS House seat
KHP pursuit ends in Jackson Co
Atchison Police probe car wash thefts
Jeff Co North USD 339 bond issue defeated
Three injured in Thursday Jeff Co collision
Atchison Co's Laurie seeks another term as Sheriff
Former KS AG files for Congress
Atchison's Amelia fireworks voted 3rd in nation
LATEST STORIES
Car-deer collision claims life of Holton woman
Atchison Co vets to honor comrades Monday
Richardson County Board receives organization updates
Only minor flooding continues along Missouri River
Three injured in Thursday Jeff Co collision
Atchison Police probe car wash thefts
KS DCF provides dollars for youth lunch
USD 415 board holds special meeting