$100,000 IN CAPE SCHOOL BONDS ARE STILL AVAILABLE TO LOCAL BUYERS

Nearly $100,000 of bonds for Cape Girardeau school improvements remain for sale to local investors.

Donna Domian of the Cape Girardeau office of Edward D. Jones and Co. said that although all of the $13,999.195.25 of bonds were issued last week, local issuing groups still have bonds for sale.

"We are a participating group member for the bond sale," said Domian. "Bonds went from the A.G. Edwards Co. of St. Louis to other investment firms who wished to handle the bonds."

She said that before any bonds were sold her office knew people who wanted to buy the bonds. "We were issued a block of bonds for sale, said Domian. "We are working with individual investors in this community who are buying the bonds."

Local investors are required to buy a minimum of five bonds or $5,000 worth. A large block of the bonds were purchased by State Farm Insurance Corp.

Domian said the bonds are an attractive investment to individual buyers. "It is a nice situation for the individual investor," she said. "The investors earn interest that is free from federal income taxes, and in Missouri they are free from state taxes as well."

She said investors can expect an average rate of interest of 5 percent.

Local projects on highways, hospitals, housing and public education could decline if local investors were not allowed to buy the bonds tax free, she said.

"Without the opportunity to buy these bonds tax free, we would have projects freeze in municipal governments," said Domian. "We would see a decrease in infrastructure projects and schools."

Proceeds from the bond sale will go toward a new elementary building, construction of a vocational-technical school and school renovations.