School District Bond Issues
When school districts in Missouri and around the country need to make large capital expenditures like building new facilities or making major repairs, they have to borrow money. Bonds are the way that school districts, fire districts, ambulance districts, etc. borrow that money. When voters approve a bond issue, the district obtains bids and sells bonds to the purchaser who offers the lowest interest rate (and current rates are very low). The funds are then used to complete capital projects, and the debt is paid back over time.
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