The Mesa Unified School District completed a $46 million bond sale this month, the first of a $230 bond package approved by voters in November.
The demand for the bonds by buyers was so successful that the average interest rate for the term of the bonds is 2.146 percent, Grant Hamill told the school board Tuesday night. Hamill is the managing director of Stifel, Nicolaus & Co., the district's financial advisory group. That low rate will mean taxpayers will pay less than anticipated to repay the bonds.
The funding will be used to make building improvements and complete construction in the next year. Projects include air-conditioning system repairs and technology upgrades.
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