Austin Public Schools to fund air quality projects with $12 million in bonds

Published 7:35 am Tuesday, January 12, 2010

Austin Public Schools will fund six air quality projects with $12 million in bonds.

The school board approved yesterday the biggest allocation of Quality Zone Academy Bonds in state history.

This will fund the replacement of the heating, ventilation and air conditioning systems at several facilities to meet current ventilation standards.

The bonds bear an annual supplemental interest rate of 1.4 percent which, as opposed to general obligation bonds, is estimated to save the district taxpayers about $2 million over their term of 16 years.

The bonds will be sold to Banc of America Leasing and Capital, L.L.C.