CHICAGO — Chicago Public Schools said it was pleased with the final 1.2% rate the district will pay on its $257 million sale Thursday of qualified school construction bonds, given a round of negative rating actions and market conditions.

The 19-year bonds that tapped the system’s 2010 allocation under the federal stimulus program paid an interest rate of 6.319, or 250 basis points over the 30-year Treasury. The direct-subsidy payment — equal to 100% of the lesser of the interest payments on the bonds or the tax-credit rate set daily by the Treasury Department — reduced the rate to 1.2%.

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