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Waconia School Board ratifies bond sale to finish indoor air quality work, refinance prior debt
Summary
The Waconia Public School District approved a bond sale to complete an indoor air quality project at the high school and to refund portions of earlier debt, with the district saying the refinancing will lower interest costs and hold tax rates steady.
The Waconia Public School District school board on an April meeting night ratified a bond sale that will fund the remaining work on an indoor air quality project at the high school and refinance parts of a prior bond issue.
District and financial advisers told the board the sale generates about $9.14 million for the remainder of the indoor air quality project and reduces interest costs on refunded debt. Michael Hart of PFM, the districts municipal advisor, said the refinancing portion yields roughly $995,000 in gross savings compared with earlier estimates and lowers the blended interest rate…
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