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Board approves $6 million bond; Zions Bank bid selected to fund Lowry High School HVAC and other projects
Summary
Trustees approved a resolution authorizing up to $6 million in general-obligation school improvement bonds and delegated authority to the superintendent to accept Zions Bank's 4.8% bid; funds are targeted to Lowry High School HVAC phases, a track reconstruction and other campus repairs.
The Humboldt County School District Board of Trustees on March 24 authorized a $6,000,000 general obligation limited-tax school improvement bond (Series 2025), delegating to the superintendent the authority to accept the winning bid and sign closing documents.
Marty Johnson, financial advisor to the district, told trustees Zions Bank offered the most favorable proposal at a 4.8% interest rate for the first 10 years, with a rate reset for the final five years. Johnson said the district would pay about $2,405,000 in interest if the financing goes the full 15 years. He said two other bidders returned…
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