Tax hike in St. Joseph won't be needed for energy upgrades
By Tom Rund-Scott
Friday May 9, 2008
ST. JOSEPH – Following a public hearing before an empty room Thursday evening, board members of the grade school district in St. Joseph have cleared the way for a final vote on whether to sell $2.5 million in bonds to pay for improving the energy efficiency of its two buildings. The bonds would not, however, require an increase in property taxes from the district's residents.
The district has a contract in the works with Trane U.S. through which Trane guarantees it will save the district money with increased energy efficiency. That guaranteed savings would then be pledged to repay the bond debt.
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