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Peru school finance committee talks about issuing bonds

Posted by wlpo on November 12, 2014

The Peru Elementary School Board is making plans to borrow money for the possible demolition of Washington School.

The district’s finance committee met Tuesday night and talked about issuing up to $900,000 in bonds to pay off the Northview School expansion project and the potential removal of Washington Elementary. Bids for the Northview expansion came in higher than expected and a state grant won’t cover the entire construction cost so the board is looking at borrowing money to pay the remaining bills.

Superintendent Mark Cross says they’ll probably make a decision on how much money to borrow in February or March. He thinks they’ll be able to add to their debt without passing the cost to taxpayers because the new bond would come after they pay off other debt.

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