Harlan School Board approves sale of G.O. Bonds

News

November 6th, 2012 by Ric Hanson

The Harlan Community School District’s Board of Education, Monday, approved the sale of General Obligation Bonds, a move that will save the District nearly $419,000.  During their regular meeting, the board heard a report from their bonding representative, Travis Squires, withf Piper Jaffray & Company, in Des Moines.  Squires told them the district began talking about the sale of GO bonds back in June. The refinancing not only saves the district over $400,000, it also lowered their interest rate from 3.8% to 1.4%. The district will not pay anything out of pocket. Squires said 5 Iowa banks, including Shelby County State Bank, United Bank of Iowa and Farmer’s and Merchants, were the purchasers of the bonds. The board will take one final step with regard to the move, at their meeting in December.
(Joel McCall/KNOD)