H-M-S to issue over $4M in SAVE refinancing bonds
Shared wrestling program with Okoboji to continue
April 22, 2021
Refunding of previously-issued bonds for the Hartley-Melvin-Sanborn facilities project was authorized during the school board meeting on April 19.
School Infrastructure Sales, Services and Use Tax Revenue Bonds sold in 2019 will be refunded by the new issue. The district has the right to call for prepayment of the original bonds in whole or in part on or after June 1, 2021. The amount to be issued is $4,090,000.
Principal payments begin in 2022 and continue through 2030. Interest rates are 3.0 percent from 2022-2027, and fall to as low as 1.150 percent during the final three years.