THAYER -- The Thayer School Board has instructed its Municipal Bond Underwriter L.J. Hart and Company of St. Louis to make the $31,100,000 General Obligation Bonds available to local individuals and institutional investors.
Superintendent Bill Garrison has been informed by L.J. Hart that the bonds have been assigned a AA+ rating from Standard & Poors Corporation due to the district's participation in the state of Missouri Direct Deposit Program coordinated through the Missouri Health and Educational Facilities Authority. Several local people have contacted the company with interest in the bonds and they should be receiving a prospectus during the near future to complete the bond sales.
According to L.J Hart & Company, the bonds are scheduled to mature from March 1, 2005, through March 1, 2023, with interest rates expected to range from 1.55 percent to 4.80 percent. The interest income from the bonds is exempt from federal and the state of Missouri income taxes and the bonds are available in $5,000 denominations. The bonds are being sold on a first come, first served basis. Anyone interested in learning more about the bonds may call Garrison's office at 264-7261, Bill Franz's office at 264-7311 or the L.J. Hart Company at 800-264-4477 to request that a prospectus be mailed to them.
Garrison said contacting for information on the bonds needs to be made as soon as possible because all sales of the bonds are expected to be completed and financial proceeds be made available to the district by March 5, 2003.