Sale of IM school bonds brings good news


Staff Writer

IRON MOUNTAIN They say that timing is everything and that certainly was true when it came to the sale of bonds at a much reduced interest rate for the Iron Mountain School District.

That bond sale equated to a savings to the public of $1,885,121 on taxes and interest from what was originally expected for the bonds.

Iron Mountain voters approved a $9.5 million bond proposal on Feb. 26 for school improvements. The sale of the qualified bonds was the first step in the process.

Iron Mountain Schools Supt. Tom Jayne noted that by law, the schools district must sell the bonds to the lowest bidder. Four bids were received with the low bid from Robert W. Baird & Co. of Milwaukee.

For more details, see Tuesday’s Daily News