Decorah School Board accepts bid for $500,000 Digital Learning Loan

On Monday night the Decorah Community School Board accepted a bid from Decorah Bank and Trust to provide a $500,000 DigitalLearning Loan, at a rate of 1.57 percent. The district has recently made major commitments for computers, televisions, Smartboards, and document cameras for classrooms. Although the district could have made the purchased directly, that would have reduced reserve funds and possibly raised issues related to reserve funds being needed for bonding agreements already in place.

The loan agreement is conditional upon the district being able to secure tax exempt status from the IRS.