Gov. Nixon Visits Ste. Genevieve School District to Detail Construction Projects Financed by No-Interest Bonds

Press Release

Gov. Jay Nixon went to the Ste. Genevieve R-II School District today to view two major construction projects made possible by the awarding of $3.7 million in no-interest bonds to the district by the state. The Governor toured the campus with school and district officials to see how the competitively awarded Qualified School Construction Bonds (QSCB) are allowing the district to complete several construction projects.

Gov. Nixon saw the ongoing construction of an eight-classroom addition at Ste. Genevieve Elementary School that will also house facilities for early childhood education, and the site where the district will construct an auditorium building that will include a performance auditorium, two band rooms and a choir room. The Governor said the investment in quality education facilities would carry benefits for many years.

"We want Missouri students to receive a world-class education so that they will stay right here in the Show-Me State to live, work and raise their families," Gov. Nixon said. "The voters showed their support at the polls last April for the work that the schools in Ste. Genevieve are doing by overwhelmingly passing the $9.5 million bond issue. The Qualified School Construction Bonds subsequently awarded by the state will save the district millions of dollars in interest. This is a great deal for students, school districts and taxpayers."

Earlier this year, Gov. Nixon announced that more than $162 million in no-interest bonds had been awarded for eligible school renovation, construction and development projects, including $3,719,779 to the Ste. Genevieve School District. These bonds, awarded by Gov. Nixon's administration and funded by the federal government, allow school districts to undertake major projects without the burden of interest payments.

School districts statewide will save millions of dollars in interest payments over the life of these bonds. Taxpayers in the Ste. Genevieve R-II School District will save nearly $3 million in interest, thanks to the QSC Bonds. In addition to the Qualified School Construction Bonds, the school district is using $4.1 million in Build America Bonds, which were made possible through the federal Recovery Act. Gov. Nixon's administration marketed the Build America Bonds to school districts in Missouri to encourage the districts to take advantage of them.

In addition to the classroom addition at Ste. Genevieve Elementary and the auditorium project, the bonds will help pay for an addition at Bloomsdale Elementary School and for approximately $1.5 million in renovation and construction projects such as windows, roofing, electrical work, lighting upgrades and flooring.

"We want the voters of the Ste. Genevieve R-II School District to know that we appreciate their support of our district in passing the $9.5 million dollar bond issue with a 76 percent vote, and we want them to know that we have worked hard with Gov. Nixon and his staff to make sure we get the best benefit for our taxpayers," said Mikel Stewart, Superintendent of Schools. "The Qualified School Construction Bonds and the Build America Bonds will save our taxpayers over $4 million during the term of the bonds. We want to thank Gov. Nixon for his dedicated support of, and interest in, education in our state."

"These bonds are helping school districts complete vital projects that will make our schools better places for students to work and learn," Gov. Nixon said. "These bonds will make a real difference for students and save real money for the taxpayers."

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