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RUSD staff outline planned defeasances to meet spend-down rules; two transfers expected to save future interest
Summary
District staff said they will present resolutions on March 17 to defease portions of past borrowings tied to construction projects and an aquatic center, collectively expected to save roughly $779,000 in future interest.
Racine Unified School District finance staff told the board on March 3 that the district will present two resolutions on March 17 authorizing transfers to complete required spend-downs and defeasances tied to past borrowing; staff said the moves are expected to reduce future interest costs.
Finance staff reported that in April 2023 the district borrowed $27.9 million for construction projects at Starbuck (Starbucks IB) and…
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