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Sweet Springs Board of Education approves sale of interest-bearing bonds

Tuesday, August 11, 2009
By GEOFF RANDS/Staff writer
(Photo)
From left, Larry Hart, president and CEO of L.J.Hart & Company, addresses the Sweet Springs Board of Public Education during its meeting Monday evening, Aug. 10, informing members of the specifics of the sale of interest-free bonds to fund the construction of additions to the district's school that currently serves children in grades five through 12, while board members Darla Reid and Doug Vogelsmeier examine informational packets.
(Geoff Rands/Democrat-News)
Larry Hart, president and CEO of St. Louis-based L.J. Hart & Company, was present at the Sweet Springs Board of Education meeting Monday evening, Aug. 10, to discuss the sale of interest-bearing bonds related to the proposed additions to Sweet Springs' school building that currently serves fifth- through 12th-graders.

The board approved the sale of those interest-bearing bonds -- $1,395,104 out of the total $3,600,000 of general obligation bonds -- to L.J. Hart & Company, the district's municipal underwriter, during its meeting.

Hart said he hopes to find one or more buyers for the bonds within the next two weeks. He reported that he already has several out-of-state parties interested in making the purchases.

Hart has a longstanding relationship with the district, reported Superintendent Boyd Jones, and has previously saved the district a good deal of money.

Contact Geoff Rands at marshallreporter@socket.net

© Copyright 2009 Marshall Democrat-News. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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The title says "Interest-free". The article says "interest-bearing". Which is it?

-- Posted by cmasretire on Tue, Aug 11, 2009, at 5:26 PM
Response by Eric Crump/Editor:
Interest-bearing. My fault. It's fixed.

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