REPUBLIC, Mo. -- Next Jan. 4, Republic High School students will move into a brand new, $35 million facility.  That transition will take place regardless of the outcome of the election on Nov. 3.  However, what could change is how the Republic School District funds part of the project.

"It's not an issue of running out of money for the project; it's just a different way to fund it," said superintendent Vern Minor.

In the district's original plan, $11 million of the $35 million was to have come from lease-purchase agreements.  The district has only used $6 million of that, and now it would like to save on the last $5 million.  That's an opportunity it seems to have thanks in part to the federal stimulus plan.

Part of the stimulus program is called Qualified School Construction Bonds, which allow schools to access money with interest locked in as low as 0 percent, provided it's used on construction projects.  

"It's just perfect timing for us," Minor said.

The district is asking voters, in essence, to reconstruct the payment plan, with those low interest rates providing taxpayers with an incentive. 

 "They're estimating the savings to us could be half a million to a million dollars," said Minor.

The $6.5-million bond issue will appear on the Nov. 3 ballot.  If it doesn't pass, the original high school funding plan will remain intact.