An unexpected low bond rate will save USD 257 taxpayers about $8.6 million in interest to build a new elementary school and make other improvements.
School board members learned the results from the sale of $35.3 million in bonds Monday, after taxpayers voted in April to build a new elementary school for $25.5 million, a new science and technology building at the high school for $7 million and replacing heating, ventilation and cooling systems at the middle school for $2.8 million.
The winning bid came from Robert W. Baird & Co., Inc., which offered a total interest rate of 3.09456% over the lifetime of the 30-year bonds.
Stay connected to the stories and events that make your community a special place to call home.
Subscriptions start at $14.90/month.View subscription options
- Unmatched coverage of Allen County’s local news and sports, a tradition dating back to 1867
- Compelling portraits of our residents, experienced reporting and thoughtful analysis
- Unlimited online access to iolaregister.com and our archives