School Board approves $9.73 million in bonds
Iowa Central Career Academy students from Humboldt High School and Eagle Grove High School toured the Chantland-MHS plant in Dakota City on April 5 as part of their manufacturing pathway. Tours are designed to help make connections between students and businesses to let students know there are jobs available in the community and area. Leading the tour were Jim Parsons, Chantland-MHS Production Manager (left), and Jim Black, Chantland-MHS Quality Manager (right). Humboldt Independent photo.
By Phil Monson
Proposed facilities improvement projects took a major step closer to reality after action by the Humboldt School Board in their April 5 special meeting.
The board approved the sale of $9,730,000 in school infrastructure sales, services and use tax revenue bonds, series 2022 to Bank Iowa to fund building and improvement projects. Sales tax revenue will be used to pay the bonds off, which will be for 20 years at a locked in interest rate of 3.35 percent.
The district will use the funds to add classroom space and build a new gymnasium at Taft Elementary, add classroom space at the middle school, construct a new practice gym and training facility at the high school, renovate restrooms at the high school and its athletic complex and install field turf at the football field and add office space to the high school.
The district currently has $341,317 in donations within the Physical Plant and Equipment Levy balance. A financial bond consultant told the school board that the interest rate of 3.35 percent is "extremely low and very tolerable for the district."
Read more about this story in this week's Humboldt Independent.
