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Clinton BOE To Issue Bonds Early With Low Interest Rates

The Clinton Board of Education made a decision Tuesday evening at their regular monthly meeting in regards to the issuance of their bonds.

Bond rates are currently extremely low. Superintendent of Clinton Schools, Dr. Jeff Holmes says the district will issue a large amount now and a smaller amount later. Interest rates on bonds tend to fluctuate during a presidential election year, and with rates currently low, Dr. Holmes feels issuing some of those bonds now is a good financial decision.

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The school district will issue $10-million now and then the rest at the end of the year. Dr. Holmes feels this is a great situation for the school board and the community. Issuing those bonds now will allow the local banks to buy the bonds.

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Issuing $10-million in bonds now will allow the local banks to buy those bonds because if it is over $10-million they cannot. Dr. Holmes realizes the local banks will not be able to buy all of them but the Board wanted to give them the opportunity to do so.

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The Board of Education will have to approve the issuance of the bonds at their July Board Meeting.

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