Sentinel Correspondent
FAIRMONT– During the Fairmont School Board meeting on Tuesday evening, Matthew Hammer from Ehlers Public Finance Advisors presented the board with results from the sale of the district’s $6.73 million general obligation bonds following the special election which took place on Feb. 9.
“I come to you from Ehlers today with some really good news. We took bids this morning and ended up with a 1.87 percent interest rate,” Hammer said.
Hammer said that pre-sale estimates they had previously provided were at a 2.67 percent interest rate.
“In big numbers, what that means is we’re looking at debt service levies for property tax levies over the life of the bonds of about $1.8 million less than pre-election estimates,” Hammer said.