Montessori of Maui has received proceeds from a $5.7 million special purpose revenue bond for campus expansion.

Only two other Hawai'i schools have obtained special purpose bonds from the state, which allow schools to borrow money from private investors at below-market interest rates.

The expansion will add elementary classrooms, a middle school to serve students now housed in temporary facilities, and a multipurpose building with a stage, an athletic court, a kitchen and art, music and drama classrooms.

An annual tuition increase of less than 2 percent over six years will enable Montessori to repay the bond, school officials said.