KEARNEY, MO -
A school district expansion project seems unlikely in the current economic climate, but one metro district has found itself in the rare position of have money to spend thanks to the federal stimulus package.
The Kearney School District is one of dozens of Missouri school districts are splitting more than $141 million in federal dollars in interest-free bonds that will go towards construction projects. The aim of the spending is to improve the schools, provide construction jobs and boost the economy.
"The school district successfully passed a $7.2 million bond issue to facilitate construction, upgrades in security and general upgrades to school buildings along with technology in November of 2008," said Kearney R-1 School District superintendent Bill Nicely, who says that $4.4 million of the bonds will be interest-free to taxpayers.
Nicely says that many of the planned improvements that voters approved on the November ballot needed fixing regardless of the cost, so the interest-free bonds will keep the city from having to raise taxes. The Kearney School District serves about 3,800 students.
"For the $4.4 million in interest here, that equates to approximately 2 million over the 15 years," said Nicely. "Ultimately the patrons will not have to pay that back and that's a savings to them."
Kearney residents say that they're happy to hear that they'll be paying less taxes over time.
"We have grandchildren that will be going to Kearney," said Greg Hagerbaumer. "So it'll be kind of nice we dont have to worry about pocketing that money out for the schools."
The Kearney School District is one of dozens of Missouri school districts are splitting more than $141 million in federal dollars in interest-free bonds that will go towards construction projects. The aim of the spending is to improve the schools, provide construction jobs and boost the economy.
"The school district successfully passed a $7.2 million bond issue to facilitate construction, upgrades in security and general upgrades to school buildings along with technology in November of 2008," said Kearney R-1 School District superintendent Bill Nicely, who says that $4.4 million of the bonds will be interest-free to taxpayers.
Nicely says that many of the planned improvements that voters approved on the November ballot needed fixing regardless of the cost, so the interest-free bonds will keep the city from having to raise taxes. The Kearney School District serves about 3,800 students.
"For the $4.4 million in interest here, that equates to approximately 2 million over the 15 years," said Nicely. "Ultimately the patrons will not have to pay that back and that's a savings to them."
Kearney residents say that they're happy to hear that they'll be paying less taxes over time.
"We have grandchildren that will be going to Kearney," said Greg Hagerbaumer. "So it'll be kind of nice we dont have to worry about pocketing that money out for the schools."
