Missouri schools split $146M in interest-free bonds - KMOV.com

Missouri schools split $146M in interest-free bonds

JEFFERSON CITY, Mo. (AP) -- About 60 Missouri school districts will share in $146 million of federal interest-free bonds for construction projects.

The amounts of bonding authority range from more than $7 million in the Springfield and Rockwood school districts to less than $200,000 in the North Shelby and Pemiscot County R-3 school districts.

The bonds are authorized under the federal stimulus act. They make it easier for schools to finance projects, because they don't have to pay interest to the bondholders. Instead, those who purchase the bonds receive federal tax credits.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

 

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