Moorhead school district may sell bonds to pay benefits
The school district in Moorhead is considering the sale of $10 million in bonds to finance skyrocketing retirement benefit costs.
District officials might take advantage of a new law allowing schools and local governments to issue bonds for retiree health insurance costs without first getting taxpayers' approval.
The Moorhead School District is projected to spend more than $740,000 on retiree health benefits this fiscal year, but the annual cost is expected to exceed $1 million by 2014.
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Information from: The Forum, http://www.in-forum.com
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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