Financing in place for Cloquet athletic complex redo

As contractors began the work of disassembling parts of the Cloquet High School track and football field this week, Cloquet school board members approved the sale of $2.7 million in bonds Monday to help finance renovations of the outdoor athletic facilities complex.

Six companies bid, with the lowest bid from Piper Sandler Companies coming in at a true interest rate of 4.7711 percent, lower than the pre-bid estimate of 5.34 percent.

Jodie Zesbaugh, Ehlers municipal advisor, said the lower bid will save the district $142,682 over what was expected. The bonds will be paid back with capital facil...