School district bond sale completed

In a special meeting Wednesday evening, the USD 470 School Board passed a resolution approving the sale of bonds.

The board unanimously approved the sale of the entire $35.8 million package at an average interest rate of 4.65 percent.

Dr. Ron Ballard, superintendent, said the ‘A’ rating the district received from Standard & Poor’s helped maintain an attractive average interest rate.

He said there was an attractive market Wednesday that will allow for the entire 35.8 million dollars to be used towards projects.

“The board was hopeful to sell the bonds yesterday and is pleased with the results,” Ballard said. “It has been a challenging market the past few months but our bond consultant, Piper Jaffray, did a good job of watching that and recommending a favorable time to proceed.”