Hannibal schools get $4 million in no interest bonds
Tue, 24 Aug 2010 22:11:58 GMT —
Mark Twain Elementary is the only elementary school in Hannibal without air conditioning.
But that won't matter in two years when a new school will be built.
Missouri Governor Jay Nixon (D) visited America's Hometown to award more than $4 million in Qualified School Construction no interest bonds to the Hannibal School District.
That money will replace the more than 100 year old Mark Twain Elementary School; build a new Early Childhood Center; and help pay for a new HVAC system installed at Eugene Field Elementary School this summer.
The no-interest bonds will mean big saviings for the community.
"And the taxpayers of this region and everyone else will save a million dollars because of it. Because of smart planning, because of support locally and because of strong investment, a million dollars that would otherwise have to be sent for interest payments off to some bank somewhere, instead will be invested right here in this area," said Gov. Nixon.
"Anytime you can save any money and use it from something else in education, it's a bonus, it's a plus. And if you can save a million dollars at one time, that can stretch a long way," said Hannibal School District Business Manager Dana Ruhl.
Some work is already being done to prepare for construction of the new school.
The bidding process will begin at the end of the month. The school is slated to open in the fall of 2012.