Morris Grade School officials will be saving money by refinancing bonds.
District 54 Superintendent Shannon Dudek said the Board of Education on Monday approved issuing $13,850,000 of funding bonds for the purpose of paying claims against the District.
Dudek said they were able to take off a few years on the length of the bonds.
Dudek said the board also approved issuing alternate revenue bonds.
Dudek said more than ten companies submitted bids to construct the new administration building.