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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