Morris High School’s working cash bonds come in at slightly lower interest rate

The Morris Community High School Board approved the sale of $1.7 million in working cash bonds Monday night, which sold at a 4.96 interest rate, slightly lower than last year’s 5.36% interest rate.

Superintendent Craig Ortiz said the bonds were sold to Commerce Bank, which was the only bidder.

“We’ve done this for many years, and traditionally it’s gone toward the education fund,” Ortiz said. “More recently, we’ve put it toward the operations and maintenance fund because of building needs we’ve had.”

The Morris Community High School Board approved the issuance of the working cash bonds back in December. This is a process the district goes through every school year.