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District staff and AMCO present refinancing option through state SCARLET program; board authorizes application
Summary
A remote presentation from AMCO adviser Brian Ossowski outlined the state SCARLET refinancing program as a possible source to refinance callable school construction bonds; the board approved a consent-agenda authorization to submit an application to the program.
Brian Ossowski, representing AMCO via videoconference, told the Williston Basin School District No. 7 board on Jan. 8 that the state’s SCARLET program (as described in his presentation) could provide funding to refinance callable bonds issued for past school construction at an interest rate of 2% for the remaining life of the bond.
Ossowski said his estimate of program activity is roughly $31 million to $33 million per year statewide and…
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