The ten year bond would cost a home valued at $400,000 approximately $30 a month.
This is less than last year's projected cost which was $15,800,000. The board decided that they would use $500,000 of the $700,000 currently in the Capital Reserve Fund to reduce the cost leaving $7,690,000 to finance with the bond. The board discussed the bond they wanted to propose for the project and after a discussion decided to go with a 10 year bond with an interest rate of 5 percent. The Hampstead School Board met on Tuesday, December 13, and the price of the proposed restoration and construction project for the Central School was discussed.īoard Chair Dave Smith said the project is expected to cost $8,190,000 with the hard costs being $6,990,000 and soft costs $775,000 with a contingency amount of $425,000. Hampstead School Board Announces Cost of Central School Project
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