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Budget committee backs engagement with Stifel to pursue SLPS bond refinancing
Summary
The Standing Committee on Budget Equity and Transparency voted to recommend the full board authorize Stifel to complete preparatory work to refinance portions of St. Louis Public Schools' (SLPS) debt if market conditions meet a minimum savings threshold. Stifel outlined the district' current bond portfolio, call dates and legal options for using a
The Standing Committee on Budget Equity and Transparency voted to recommend that the board of education authorize Stifel to begin paperwork to pursue refinancing of district bonds if market conditions yield sufficient savings.
Lorenzo Boyd, managing director of public finance for Stifel, told the committee the district has five outstanding issues: 2010 qualified school construction bonds (QSCBs; originally $56,644,000; about $47.6 million remains and those bonds are noncallable), 2011 qualified zone academy bonds (QZABs; $35 million outstanding and noncallable), the 2017 general obligation bonds (approximately $26.57 million outstanding; callable 04/01/2026), the 2023 voter-authorized program (approved at $160 million; $135 million issued in the first tranche) and a March 2025 issuance of a final $25 million tranche.
Boyd said the 2017 bonds can be refinanced on a tax-exempt basis beginning in January 2026…
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