Hubbard school board OKs $2.8M loan

September 23, 2013 at 9:48p.m.

HUBBARD — The Hubbard school board approved a $2.8 million loan from Huntington Bank for improvements to athletic facilities.

The board voted unanimously tonight in favor of a lease proposal presented by Ross-Sinclaire & Associates, a Columbus firm that specializes in financing such as levies and bond issues.

The loan, at 3.25 percent interest, is a lease, taken over 10 years with refinancing possible in five years.

There is no penalty for paying off the loan early, said Eric Prall of Ross-Sinclaire.

For the complete story, read Tuesday's Vindicator and Vindy.com