Missouri schools share $146M in interest-free bonds

Monday, May 31, 2010 | 3:07 p.m. CDT; updated 3:24 p.m. CDT, Monday, May 31, 2010
BY The Associated Press

JEFFERSON CITY — About 60 Missouri school districts will share $146 million worth of federal interest-free bonds for construction projects.

The amounts of bonding authority range from more than $7 million in the Springfield and Rockwood school districts to less than $200,000 in the North Shelby and Pemiscot County R-3 school districts.

The bonds are authorized under the federal stimulus act. They make it easier for schools to finance projects because they don't have to pay interest to bondholders. Instead, those who purchase the bonds receive federal tax credits.

 

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