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Pottstown Board Borrows $6.7 Million For Schools

Pottstown Board Borrows $6.7 Million For SchoolsPOTTSTOWN PA – More than $6.7 million in bonds will be sold by the Janney Montgomery Scott LLC investment firm on behalf of the Pottstown School District so it can finance the completion of “additions and renovations to various elementary schools,” the district said Monday (March 24, 2014) in a published advertisement.

The bond sale was authorized last Thursday (March 20) by the Board of School Directors to both pay for the escalating costs of repairing and expanding its several elementary schools, and for the financing cost. The sale will be conducted privately.

The bonds will accrue interest at rates between 1.5 and 4.25 percent, with maturity dates between June 2019 and June 2035. They’ll be sold in amounts ranging from $20,000 to $3.59 million. Specifics of the sale are available for public readership at the district administration building, 230 Beech St., weekdays between 7:30 a.m. and 4 p.m.

Photo from Google Images

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