School sells $3.2 million in bonds for HVAC projects

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By Reed Anfinson

Swift County Monitor-News

Benson Public Schools sold $3.07 million in Long Term Facilities Maintenance (LTFM) bonds Oct. 21 to finance heating, air conditioning and ventilation work at the high school.

 LTFM bonds do not require a vote of the district’s residents. The bonds will be paid off in 15 years.

Three bids were submitted to the district with the low bidder Northland Securities out of Minneapolis at 2.07 percent, Matt Hammer of Ehlers told the school board. During the presale discussions, Ehlers and the district were looking at 2.46 percent interest rate.

That is nearly 40 basis points lower than what the district was looking at in August, “which is really good,” Hammer told school board members at their Oct. 21 meeting. That translates into about $114,000 less in interest payments that the district was looking at earlier, he said...


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