AUSTIN, MN — Six Austin Public Schools will soon have better indoor air quality thanks to the approval of a $12 million bond, according to KIMT-TV.
According to the story, the entire project will be financed by a private national lending house on Wall Street and taxpayers will not see an increase from the project.
Director of the Austin Public Schools'' Finance and Operations Mark Stotts said: "Indoor air quality is kind of the new buzz word when it comes to facilities. And it is important, you know, as kids and staff have allergies and those types of things."
The Austin Public Schools have 16 years to pay back the bond with an interest rate between 1 and 1½ percent, the story noted.
The Austin Public Schools School Board will begin accepting bids from contractors in the next few weeks — with the project going to the lowest bidder — and will finalize the bid January 11, 2010, the story added.