As contractors began the work of disassembling parts of the Cloquet High School track and football field this week, Cloquet school board members approved the sale of $2.7 million in bonds Monday to help finance renovations of the outdoor athletic facilities complex.

Six companies bid, with the lowest bid from Piper Sandler Companies coming in at a true interest rate of 4.7711 percent, lower than the pre-bid estimate of 5.34 percent.

Jodie Zesbaugh, Ehlers municipal advisor, said the lower bid will save the district $142,682 over what was expected. The bonds will be paid back with capital fa...