August 24, 2017
CAPAC COMMUNITY SCHOOLS
2017 SCHOOL BUILDING AND SITE BONDS
Capac, Michigan - The Capac School Board is pleased to announce the successful sale of its $5.8 million of School Construction Bonds recently approved by the voters. The investment banking firm of Stifel Nicolaus of Okemos, Michigan handled the sale and reported good demand for the bonds from investors. Nearly all of the bonds were sold within the first two hours of accepting investor orders. As a result of the investor demand, the bonds were sold at an average interest rate of just 3.2% which is a full 1% lower than the planning estimates prepared by the District’s financial advisor. Over the 20 year repayment term, the reduced interest expense will be over $1.2 million dollars which directly benefits property taxpayers.
Moody’s Investor Service gave the bonds a credit rating of A3. The bond money will be used for remodeling, furnishing and equipping school facilities, purchasing technology and school buses and improving playgrounds and athletic fields.
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Who's Your Chief
If you know of a Capac Community Schools staff member who has gone above and beyond for CCS please nominate him or her for a "Who's Your Chief?" Award.