History of One Room Schools | Central Michigan University
School Construction Bonds Confirmed for August 2026 Election Referenda
| School District | Amount | Election Date |
|---|---|---|
| Harper Creek Community Schools (Calhoun County, MI) | $28,000,000 | Aug 4, 2026 |
| Homer Community School District (Calhoun County, MI) | $11,920,000 | Aug 4, 2026 |
For reasons that may be obvious, construction companies make markets with their public relation enterprises.
Why the 10-Year Treasury Note Matters to School Bonds
The yield on the U.S. 10-year Treasury note is the principal benchmark for long-term borrowing throughout the American economy, including the municipal bond market that finances schools, colleges, and universities. When Treasury yields rise, investors generally expect higher returns from tax-exempt school bonds as well. To attract buyers, educational institutions must offer higher interest rates, increasing the cost of financing new classrooms, laboratories, residence halls, athletic facilities, and utility infrastructure.
Conversely, when 10-year Treasury yields decline, borrowing costs often ease, enabling school districts and universities to finance capital improvements at lower interest expense and reducing the long-term burden on taxpayers or tuition revenue. Although the final interest rate on any bond issue also reflects the issuer’s credit quality, market demand, insurance, and overall economic conditions, daily movements in the 10-year Treasury yield remain one of the most closely watched indicators of the direction and relative cost of educational facility financing.
As a rule of thumb, every 0.25 percentage point (25 basis point) increase in the borrowing rate adds about $25,000 per year in interest for every $10 million of outstanding principal.
Albert Kahn detail at the Alexander G. Ruthven Building at the University of Michigan
