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Fridley board authorizes steps to refinance 2016 and earlier bonds, citing $400K–$500K potential savings
Summary
The Fridley Public Schools board voted to approve a resolution allowing staff to pursue refinancing of voter-approved 2016 bonds and earlier refunded bonds, with advisors estimating $400,000–$500,000 in interest-cost savings for taxpayers and a probable market transaction in early 2026.
The Fridley Public Schools Board of Education on Oct. 7 authorized district leaders to pursue a refunding (refinancing) of general obligation school building and alternative facilities bonds, series 2026A, aiming to lower interest costs for taxpayers.
Superintendent Dr. Lewis introduced the topic and invited financial advisor Matthew Hammer of Ehlers to explain. Hammer said the district has two groups of callable bonds — one from voter-approved 2016 issues and earlier bonds that had been refunded in 2016 — that reach their call…
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