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District staff and municipal advisor preview $9.6 million estimated savings from potential bond refunding
Summary
DA Davidson representative Corey Plager and district staff updated the board on a proposed refunding of callable 2015 school bonds; staff estimate roughly $9.6 million in gross savings (net present value ~ $8.2M) and expect resolutions for board action at the March meeting.
DA Davidson representative Corey Plager and district finance staff presented a bond refunding update to the Snoqualmie Valley School District Board of Directors, describing timing, estimated savings and the authorization steps the board will be asked to approve in March.
Plager said the district is eligible to refinance callable portions of bonds sold in 2015 (used for the high school reconstruction and Timber Ridge), and current market estimates project a gross savings of about $9.6 million with a net present value estimate of…
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