Building on a community’s success
When you visit Broken Bow, a community of 3,500 nestled in the Nebraska Sandhills, you are greeted by a picturesque town square. Talk to a few civic leaders and you soon recognize this town is a powerhouse of progress and growth, attracting businesses and young families to the area.
So many young families, in fact, that North Park Elementary School was bursting at the seams.
The school needed to accommodate increased enrollment and an at-risk-student reading program. The lunchroom doubled as the gymnasium, causing shorter lunch breaks and chaotic transitions. Modular classrooms were set up as a stop-gap measure.
Civic leaders were committed to making the school renovation and expansion project happen, so they turned to Ameritas.
Ameritas Investment Corp.’s public finance division has worked with Broken Bow for more than 20 years, underwriting such projects as an airport expansion, town square revitalization, paving, water and sewer projects, park and swimming pool improvements, along with other public building improvements.
For the school project, Ameritas helped the district obtain an allotment of Qualified School Construction Bonds from the Nebraska Department of Education. With the issuance of these bonds, the federal government, through the American Recovery and Reinvestment Act, would reimburse the district for nearly 100 percent of the interest expense.
Encouraged by the interest reimbursement, voters overwhelmingly approved the bond issue. Today, the school once bursting at the seams is now brimming with community pride.