The Brown Deer School District will save almost $9 million in projected interest costs on bonds issued for a building addition to Brown Deer High School and the remodeling of Brown Deer Middle School. The district plans to close and raze Dean School once the building projects are completed in 2013.
Voters in the district authorized a total of $22 million for the construction projects.
Finance Director Emily Koczela told the School Board tonight that FTN Financial Capital Markets was the low bidder for $10 million of general obligation bonds. The bonds have a 2.4 percent interest rate.
BOSC Inc. was the low bidder for $5 million of Qualified Zone Academy Bonds at an interest rate of 3.85 percent. The federal government pays the interest due on QZAB bonds; local taxpayers pay only the principal.
According to materials presented by consultant Robert W. Baird & Co., the principal and interest cost for the district will be $39,187,515 over 20 years instead of the $47,978,815 cost over 25 years as originally projected.
- Republican primary for Ozaukee County Treasurer sees two political newcomers facing off
- 2016-17 Mequon-Thiensville School District budget passes unanimously
- Mequon-Thiensville Police Reports, July 28, 2016
- Pitbull attack in Mequon leaves rare breed dog near death
- Mequon-Thiensville Police Reports, July 21, 2016
- Mequon-Thiensville Police Reports, July 14, 2016
- Mequon girl going to Japan with Trinity Irish Dancers to give free show in earthquake-affected area
- Mequon residents will be Gathering at the Green July 15 and 16
- Cheel-a-bration bringing cheer to Thiensville July 16
- Mequon-Thiensville Police Reports, July 7, 2016