Board of Selectmen authorized the $10 million dollar bond for upcoming school
The Minot Forest Elementary School got a financial start Tuesday night as Board of Selectmen voted to authorize a $10 million bond for the upcoming preK-4 elementary school project.
The Board of Selectmen also voted to authorize a $10 million dollar bond for the new Minot Forest Elementary School.
Investment banking company Raymond James is financing the bonds while the town of Wareham receives the money for them.
“They are taking our bonds and selling them and we get the money for it,” said Selectman Alan Slavin. “It’s a standard procedure."
According to Slavin, $10 million is just the beginning and the Wareham has the incentive of borrowing another $80 million.
The work on the foundation of the $90 million Minot Forest Elementary School is scheduled to begin in February of 2020. The school is designed to have two academic wings extending from a central core.
The central “core” of the building will be shared by all grades, and will include the gym, cafetorium, and music classrooms on the first floor. The music classrooms will be behind the cafetorium stage. Administrative offices, the nurse’s office, and occupational and physical therapy will be in this section.