School district authorizes sale of bonds

Chuck Kajer, Managing Editor

The New Prague Area School Board approved two resolutions Monday authorizing the sale of bonds for constructing an addition to the New Prague High School building and making energy-efficient improvements to district buildings.

Voters in the school district had approved the sale during a bond referendum three weeks earlier.

Rod Zivkovich, the district’s finance director, gave a presentation which proposed selling the bonds in two separate issues. The first bond, for $8.475 million, would close in 2005 and mature in 2010-2019. The second bond, for $9.7 million, would close in 2006 and mature from 2019-2024.

By splitting the bonds into two groups, the district can save money on interest. Bonds under $10 million are bank qualified