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School Board seeking loan to aid cash flowThe Hamilton Southeastern School Board was expected to approve issuance of $8 million in tax warrants at its Tuesday night meeting, said HSE interim Co-Superintendent Mike Reuter.
The warrants, a form of temporary loan, will be used to help cash flow as the district waits to collect delayed property tax money. The district bid out the warrants and received four offers. The lowest came from National City, which offered a 2.38 percent interest rate. This means the district would pay about $190,400 in interest when it repaid the loan at the end of the year. http://www.indystar.com/apps/pbcs.dll/article?AID=/20080611/LOCAL0102/ 16 times read
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