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School District May Issue Bonds

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Oct 7, 2008 11:05 am US/Central

School District May Issue Bonds

MOORHEAD, Minn. (AP) ― The school district in Moorhead is considering the sale of $10 million in bonds to finance skyrocketing retirement benefit costs.
  
District officials might take advantage of a new law allowing schools and local governments to issue bonds for retiree health insurance costs without first getting taxpayers' approval.
  
The Moorhead School District is projected to spend more than $740,000 on retiree health benefits this fiscal year, but the annual cost is expected to exceed $1 million by 2014.


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