RHISD approves $600k loan to pay staff

By MATHEW ZUÑIGA
Special to the NEWS

cashRIO HONDO – The Rio Hondo Independent School District Board of Trustees agreed to seek a $600,000 loan to compensate employees and purchase new textbooks.

Another $400,000 loan, which would be earmarked to buy a new school bus and new computers, was discussed but tabled for another meeting.

The Board held a meeting on Monday, June 9 at the RHISD administration building, and voted to acquire a loan from Government Capital, a public financing firm, for $600,000. The loan will be paid back over five years with a 2.94 percent interest rate.

For more on this story, pick up a copy of the June 15 edition of the San Benito News. Or view our E-Edition by clicking here.

 

Permanent link to this article: https://www.sbnewspaper.com/2014/06/13/rhisd-approves-600k-loan-to-pay-staff/

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