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Grand Island Public Schools says bond tender offer saved about $1.3 million
Summary
District finance advisers reported results of a tender offer to purchase and refund portions of outstanding bonds, with roughly 29% market participation and an estimated $1.3 million in savings, the district's underwriter and bond counsel told the board on Jan. 9, 2025.
At a Jan. 9, 2025 meeting, Grand Island Public Schools board members heard results of a bond fund tender offer intended to refund portions of bonds sold in earlier financings. Paul Gregor of DA Davidson, the district's underwriter, and Mike Rogers of Gilmore & Bell, bond counsel, presented the market results and economic impact.
Gregor and Rogers said the district offered to buy back a portion of the outstanding 2019 bonds and to refinance certain maturities. Gregor said the market yielded about 29% participation by…
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