Skip to main content

Trustees OK sale of last block of construction bonds

January 14, 2011

Big Spring Independent School District trustees authorized the sale of the final block of voter-approved construction bonds during their regular meeting Thursday evening.

Voters approved the issuance of $60 million in bonds in May, and almost $53 million of those were sold in September.

However, officials held $6.7 million in bonds in abeyance, hoping to qualify for financing under the Qualified School Construction Bond program, a federally-backed system which features ultra-low interest rates.

But school officials discovered the QSCB program might be more trouble than it's worth. “There were too many unknowns with QSCB,” said Vince Vialle, an investment advisor with Specialized Public Finance of Lubbock, who has assisted the district through the bond-sale process. “We knew there would be several strings attached, and it wasn't a certainty we'd get the designation, anyway.”

For more information, you may subscribe to the Big Spring Herald or purchase an e-edition.

The Lamesa Lady Tors came into Tuesday’s showdown with with one simple plan: Don’t let Julianna...
Matt Yanez gave the large crowd in the Steer Gym plenty of reason to yell on Tuesday night as the 5...
Make no mistake about it, the Big Spring High School boys’ and girls’ basketball teams will step...
New Listings!! 4501 Ratliff Rd. 19605 N. Hwy. 87-Ackerly 2511 Larry
The most common New Year Resolution is to lose weight and get fit. Fitness and nutrition expert John Basedow offers his...

 

Premium Drupal Themes by Adaptivethemes