Bids on school bonds come in better than expected

The sale of two different bonds to finance renovations and additions to Decorah High School and John Cline School have come in with better-than-expected financing rates.

School district financial consultant Jon Burmeister had predicted a rate of 3.39 percent on $10,405,000 in general obligation school bonds and a rate of 1.95 percent on a five year refinancing of $3.3 million in bonds issued earlier for the Carrie Lee construction project.

Eight financial groups submitted bids on both or one of the bond issues.  UMB Bank N.A., a Kansas City banking group, had the apparent low bids of 3.085 percent interest on the $10.4 million in general obligation bonds and 1.200 percent interest on the $3.3 million in refinancing bonds.