The Bigfork Elementary bond sold, and trustees say a low interest rate means savings.
When the Bigfork School Board originally estimated the cost of expanding and updating the elementary school, they factored in a 5-percent interest rate. Trustee Denny Sabo says the bond sold to Stifel Nicoles & Co. at 3.45-percent. Sabo says the Net Interest Cost was a reduction of over $800,000.
The Elementary Bond pays for administrative offices near a new, clearly defined front entrance. New classroom space will move the 6th graders out of the temporary buildings near the edge of the playground, and back into the school. Improvements to the cafeteria, a new art room, and new science classrooms are also planned.
The $5.5-million bond passed in October, 1,001 for and 920 against.