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Treasurer says district earned AAA rating and negotiated lower bond interest, saving taxpayers about $750,000
Summary
Treasurer Becky Jenkins told the board the district received an S&P upgrade to AAA, completed a bond sale with a 4.38% interest rate and sold retail portions of the issuance; the rating and sale produced roughly $750,000 in estimated savings versus earlier assumptions.
Treasurer Becky Jenkins told the New Albany-Plain Local Board of Education on Feb. 24 that Standard & Poor's upgraded the district's credit to AAA for the new issue and for outstanding debt. Jenkins said the district's recent bond sale resulted in an overall interest rate of 4.38 percent and that the AAA rating "saved the district about $750,000." She also said roughly $3.45 million of bonds were sold to retail investors.
Why it matters: a higher credit rating…
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