From the Kokomo Tribune:
Peru Community Schools will borrow nearly $8 million to pay for a slew of building projects, including safety and technology upgrades, roof repairs and construction of new football and soccer fields.
The Peru School Board approved the bonds Monday in a 5-2 vote.
The money will pay for projects at all five Peru schools, as well as the administrative center and sports stadium.
The bonds will also fund half of the construction costs of two new soccer fields and two new football fields on 13 acres donated in January to the district by Russell Bellar, owner of Bellar Construction Management.
The land is located in the open floodplain area just north and east of Roxy Lane on the city’s north side.
Around $3 million of the loan will go toward roof repairs. Other projects include building a handicapped-accessible path at the stadium, installing security cameras at the schools and upgrading technology hardware.
...
The new $8 million bond will increase property taxes in the school corporation. Rates will increase by 5.6 cents next year, and jump another 13.7 cents in 2015. That means a homeowner with a $75,000 house will pay an additional $17.30 in 2015.
With interest, the district will pay in total $10.75 million for the bonds, with the last payment scheduled for 2026.
...
http://www.kokomotribune.com/local/x1226061666/Peru-schools-approve-8-million-bond
