Telegraph Herald - Dubuque, IA


 
Tuesday, November 11, 2008
Lancaster
School board approves loans

LANCASTER, Wis. -- The Lancaster School Board has approved short-term borrowing to help cover district expenses until state aid payments are made.

The district will borrow $700,000 from the M&I Bank for one-year, at an interest rate of 4.75 percent. District Administrator Rob Wagner said the district had to go locally for the money after no offers were received when it was put out to bid.

In addition, the Lancaster School Board has approved the purchase of a Thomas 57-passenger bus at a cost of a little more than $60,000. As part of the deal, two buses will be traded in. The new one will be handicapped-accessible, making it the second in the fleet with that feature.


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