The Board of Trustees for the Mount Vernon schools approved spending $725,000 from the $6.1 million general fund balance to pay for the cost of issuing bonds, contracting bond insurance, and paying the first interest payment due 8-15-09 for the bonds.
The action will save MVISD approximately $500,000 over the life of the 20 year $20.5 million bond to build a new elementary school building. The action was taken in a special called meeting on Monday, Feb. 2.
