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Board hears plan to refinance 2021 bonds; advisers estimate about $270,000 in savings
Summary
Financial advisers told the board refinancing $5.8 million of 2021 bonds could lower interest from about 5% to ~2.9%, yielding roughly $270,000–$280,000 in lifetime savings; a parameters resolution was proposed to permit quick market action.
Joe (Cyber Sandler) presented a refinancing plan for the district's series 2021 bonds, saying the district has about $5.8 million remaining and that market conditions could allow a substantial cut in interest costs. "The result is gonna be that you're gonna save about 270, $280,000," he said, explaining the district could realize annual savings of roughly $65,000…
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