CAPE SCHOOLS CHOOSE BOND UNDERWRITERS

The Cape Girardeau Board of Education has selected Boatmen's and A.G. Edwards to serve as the school district's bond underwriters should voters approve bond sales this spring.

The two firms offered a combined bid and were among three bidders.

The bond underwriter will work with the district to sell bonds if voters approve a $14 million bond sale. The money would be used to build a new vocational school and elementary school, an addition to Jefferson Elementary and renovations to Franklin, Alma Schrader and Clippard elementary schools.

The proposed construction projects are part of a 10-year master plan for the district approved by the school board in November.

Superintendent Dan Tallent said the bond consultant would make sure local buyers and sellers have first chance for the bonds. After that the firms would sell bonds throughout the state.

Tallent said the firms would act as financial advisers to the school district concerning the sale of bonds. He also explained that the district has no financial obligation if voters say no.

The district also has selected architects and bond counsel to work on the project.