Bonds sold to renovate Touchet Secondary School

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TOUCHET — Touchet School District sold $6.5 million in bonds to renovate Touchet Secondary School.

The bonds were approved by voters in February to replace the school’s leaking roof, modernize instructional spaces and replace the outdates HVAC system. The bonds will be paid off by 2032 and were sold at an average interest rate of 2.86 percent.

The anticipated combined bond tax rate will be $2.86 per $1,000 of assessed value in 2014, which is $0.25 per $1,000 lower than previously estimated. The district was able to lock in lower interest rates than anticipated due to favorable market conditions.

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