Lower interest saves USD $200,000
Low interest rates were a selling point for the $25 million bond issue recently approved by USD 466 (Scott County) voters.
That bargain turned out even better than expected when the bonds were sold for 3.76 percent interest.
“We were expecting 3.88 percent, so we feel real good about this number,” says Supt. Jamie Rumford. “Our bond rep was ecstatic. He said this is as good as it could have been for us.”
There’s speculation that interest rates could climb “significantly” before the end of the year, so Rumford says getting the bonds sold this quickly was important.
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