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Johnson Controls Incorporated

Harford schools to finance $16 million for energy improvements at 2.01 percent

Harford County Public Schools will finance the third phase of its system wide energy improvements initiative through JPMorgan Chase Bank at an interest rate of less than 2.1 percent.

The contract, which carries a lower interest rate than projected, was approved by the Harford County Board of Education during its most recent meeting in Bel Air on Dec. 3.

On Oct. 22, the board approved a contract for phase three of the school system's energy initiative with Johnson Controls Inc. for $16,069,958.

Through these energy improvements, the school system will be able to save enough energy and operating costs to cover the debt payments for financing the improvements.