The Newton School Board approved a 3.32-percent interest rate on approximately 10-million dollars of School Infrastructure Sales, Services, and Use Tax Revenue Bonds at their meeting Monday night. 

The bond revenue will be used to build an addition onto and renovate Aurora Heights Elementary School. The building is not being used this year so the work can begin. Aurora Heights and Thomas Jefferson Elementary will both be renovated and expanded, as the Newton School District transitions from three elementaries this year, to just two once the improvement projects are completed. Susanne Gerlach of PFM Financial Advisors in Waukee conducted the Newton School District’s bond sale Monday afternoon.

 “I’m very pleased with the results. I would have not guessed that we would be below 3.5-percent.”

The District will pay on the bonds for 14-years. The work at Aurora Heights Elementary is phase one of the transition process. Architect Rachelle Hines with FRK Architects in West Des Moines says the updated school should be completed by August 1st, 2026.

“Construction will start immediately, as soon as possible. They may start with the interior and not break ground on the addition until spring.”

Hines says the construction cost is estimated at over $14,517,000. But the project tops $16,258.000 with soft costs added. The bid opening is set for October 24th.