At its June meeting, the Bond County Community Unit 2 Board of Education issued general obligation school bonds.
The bond issue totals $5,177,600.
Unit 2 Superintendent Wes Olson said the majority of the money, about $3 million, will be used to finance health-life safety building projects. There are numerous such projects, at Bond County Unit 2 High School, Greenville Elementary School, Greenville Jr. High, Pocahontas School, and the Early Childhood Center. Many of the projects are underway now.
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Olson said the remaining money is being used to refinance bonds issued by the district about three years ago. Once paid off, that debt will be restructured at a lower rate.
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Tim King from Kings Financial Consulting reported to the board the bonds were purchased locally by Bradford National Bank and The FNB Community Bank, in addition to Busey Bank in Edwardsville.