RRMR puts tax-neutral bond on the ballot for HVAC project

By Travis Fischer, tkfischer@charlescitypress.com

The Rudd-Rockford-Marble Rock Community School District plans to have a bond measure on the ballot for the general election this November.

The school is planning to bond for $5,820,000 to fund the installation of a new heating, ventilation and air-conditioning (HVAC) system and new day care for the K-12 building. While the district plans to pay for the project using its allotted Local Option Sales Tax (LOST) funds, by issuing bonds the district can secure a lower interest rate and reduce some of the fees and expenses than if it were to pay for the project directly out of LOST funds.

Superintendent Todd Liechty emphasized that, pass or fail, the bond won’t impact property tax rates.

“We can use the penny sales tax to do it, but if we do we have to pay a higher interest rate,” said Liechty. “If they pass it, we can save money.”