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Forum staff reports, Published November 15 2013

WF district borrows $9.4 million for school

WEST FARGO – The school board here voted 6-0 Tuesday to approve issuing $9.4 million in limited tax state school construction fund bonds to help pay for construction of an elementary school in the Wilds subdivision south of Interstate 94 and west of Sheyenne Street. Plans are to open that school in fall 2015.

The Department of Public Instruction provides the financing. The 20-year bond issue carries an annual interest rate of 1.23 percent, district documents show.

“The interest rate was extremely favorable. It’s a good move on the part of the district to take advantage of it,” school board President Kay Kiefer said.