Favorable interest rates could translate into a substantial savings to taxpayers as USD 257 prepares to build new facilities. Depending on how the bidding process goes, the district might be able to set a lower tax rate and save about $5.57 million compared to earlier projections.
Representatives from George K. Baum & Company helped school board members on Monday to start the process of selling bonds to build a new elementary school, new science and technology building at Iola High School and new heating, ventilation and cooling systems for Iola Middle School. Voters approved the bond issues in April, authorizing the district to spend up to $35.43 million for the three projects.
The board also decided to begin a process to hire a contractor to oversee the construction process and work with SJCF Architects through the design phase.