News 4 May 2018

Interest rate jumps in final bond sale

The New Hampton School Board knew it was coming, so the jump in interest rates didn’t come as much of a surprise.The board sold its final $9.415 million in bonds on Monday night, and the winning bid provided by Northland Securities of Minneapolis came with a “true interest rate” of 3.366452 percent.A year ago, Northland also won the bid for the first $10 million in bonds that will be used to pay for the district’s new middle school, competition gymnasium and industrial technology and vocational agriculture center, and the “true interest rate” on that sale was 2.926733 percent.— For more on this story, see the May 4 New Hampton Tribune.

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