The West Plains School District has approved the sale of 4-million dollars in lease financing certificates. During a special meeting on May 29th, the West Plains School District Board of education approved the sale of Lease Certificates of participation in the amount $4-mission to L.J. Hart & Company of St. Louis, a municipal bond underwriter.
They have agreements to re-sell approximately 54 percent of the certificates to local banks and Edward Jones and Company to offer to local individuals.
The sale of the certificates provides funding the school district’s current maintenance project that includes repairing and replacing more than 67-thousand square feet of roofing as well as replacement of windows and energy improvements to several aging buildings.
The financing proceeds are expected to be available to the district by June 10th.