BOONE, Iowa—The Boone City Council has approved moving ahead with a proposed agreement with the Boone Community School District that will have the city actually sell a bond issue, expected in January of 2023, to cover the construction of an extension of Hancock Drive to Corporal Roger Snedden Drive. The bond sale would be for $3.5 million and would include $750,000 already committed by the City to the project. The balance would be the School District’s share. The costs of issuing the bonds and interest would be divided accordingly. The bond would be in the name of the City of Boone and the School District would pay the city it’s share of the cost annually. All the specific details are scheduled to be worked out by legal counsel this week. Both the City Council and the School Board would need to approve a formal agreement.
About the Author
