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Published: Thursday, 1/29/2004

Northwood board to try for lower bond rates

The Northwood Local Board of Education voted unanimously last night to take advantage of lower bond interest rates that are expected to save the school district $136,880 over the next nine years.

The board agreed to apply to a program offered through Fifth Third Bank to sell bonds on the remaining nine years needed to pay off capital improvements that district voters agreed to support in 1994.

Voters approved a 2.5-mill bond issue to raise $1.9 million to pay for several projects, including a new gymnasium, cafeteria, and roof for Northwood Middle School, four new classrooms at Olney Elementary School, and a new roof at Lark Elementary School.

In other action, the board accepted the resignation of Treasurer Chris Thompson, who is stepping down after a year to accept a similar position with the Miami County (Ohio) Park District.

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