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Fargo board unanimously approves resolution to seek $10 million state school construction loan
Summary
The Fargo Board of Education voted 9-0 to authorize an application for up to $10 million from the state school construction assistance revolving loan fund, which carries an approximate 2% interest rate and would be an alternative to issuing bonds.
The Fargo Board of Education on a 9-0 roll-call vote authorized the district to apply for up to $10,000,000 from the state school construction assistance revolving loan fund, a low-interest loan program that could reduce borrowing costs compared with issuing bonds.
Jackie Gapp, serving as chief financial officer in place of the district’s usual note…
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