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St. Francis board ratifies first phase of facility bond sale; district cites $1.37M interest savings
Summary
The St. Francis Area Schools board ratified a bond sale to fund parking and indoor air-quality projects, accepting a bid with a true interest cost near 3.75% and projecting roughly $1.37 million in interest savings on the first financing; estimated average-home tax impact is about $218 per year (tallies not specified).
The St. Francis Area Schools board ratified a financing move to fund facility maintenance and tax-levy projects, approving a resolution that formalizes a recent bond sale and authorizes receipt of funds for the district’s first-phase work. Michael Hart, a representative from the district’s municipal finance advisor, told the board the sale received eight bids and the lowest came with a true interest cost of about 3.75% from TD Financial Products.
Why it matters: The bonds will fund parking-lot upgrades and an indoor-air-quality package that are part of a larger…
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