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District to consider refinancing $30 million in bonds if market savings exceed 3%
Summary
District finance staff told the board a resolution on March 17 would authorize pursuing refinancing of a $30 million outstanding bond (5% coupon) only if pricing yields more than a 3% savings; preliminary scenarios estimate about $1.7 million in long‑term savings if market conditions hold.
Finance staff presented a preliminary refinancing analysis for outstanding district bonds and recommended placing a conditional resolution on the March 17 board agenda.
A district finance presenter summarized the situation: there is about $30,000,000 par outstanding at a 5% coupon and current market illustrations show an opportunity to refinance. The presenter…
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