Donations Lower Owatonna School Bond Referendum To $116M
OWATONNA, Minn. (AP) -- School leaders in southeast Minnesota hope voters will approve a $116 million bond referendum this spring to replace the district's aging high school after donations from three major businesses helped drop the cost by at least $22 million.
The Star Tribune reports that Owatonna Public Schools officials believe the bill could lower even more as other businesses express interest in replacing the nearly 100-year-old building. The project's initial price tag was $138 million.
Insurance company Federated Insurance has pledged $20 million, while Wenger Corp. has offered about $2 million in its music, theater and athletic products. Glass manufacturer Viracon has promised to provide all of the glass in the new building for free.
The district won't know how much Viracon's donation will save until it finishes the design work.
The referendum will be held May 14.
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