POSTED: Tuesday, November 27, 2012 - 9:30pm
UPDATED: Tuesday, November 27, 2012 - 9:44pm
KILGORE — A phase of Kilgore ISD drew to a close Monday night as the board of trustees authorized its final sale on its 2010 bond building project.
The school board unanimously approved selling its final $9.5 million installment of school bonds with a 1.29 percent interest rate. FTN Financial Capital Markets had the winning bid, said Doug Whitt of Southwest Securities.
In May 2010, Kilgore ISD taxpayers approved a $55 million bond package that included a new Kilgore Heights Elementary School and Maude Laird Middle School, renovation to Chandler Elementary School, and renovations and additions at Kilgore Intermediate School.
Trustees sold their first $41 million bond installment in 2010 at an interest rate of about 4 percent and a second installment of about $4.25 million interest-free, Whitt said. The final sale, with its 1.29 percent interest rate, is being obtained at a time of “historic record lows,” Whitt said.
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