Relief is coming to the eight schools in the Springfield (Mo.) school district that are without air conditioning. The district is using $7.5 million in federal no-interest bonds to install air-conditioning systems and carry out other facility upgrades.
The funding is part of $162 million in no-interest bonds that the state of Missouri has received for school renovation, construction and development projects. That includes $146.3 million in Qualified School Construction Bonds and $15.9 million in Qualified Zone Academy Bonds.
"These bonds will help school districts undertake critical development projects, while saving millions for the taxpayers," says Missouri Gov. Jay Nixon.
Nixon estimates that use of the Qualified School Construction Bonds will save the Springfield district $5.5 million in interest costs.
