Sibley East board approves Nov. 4 referendum of $43 million

ARLINGTON – The Sibley East school board unanimously approved a resolution Monday allowing the school district to borrow up to $43,045,000 if a Nov. 4 school bond referendum is approved by district voters.

Plans include building a new elementary school in Gaylord and remodeling and building additions to the school in Arlington. The special election remains contingent on receive of a positive review and comment from the Minnesota Commissioner of Education.

The existing school in Gaylord would be sold or demolished. Twenty-five year bonds would be sold with an average interest rate of 4.25 percent with an estimated Feb. 1, 2015 issue date. Public meetings about the project will be held in the coming weeks.

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