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GRPS previews possible refunding of 2016 bonds that could save taxpayers about $5 million
Grand Rapids Public Schools Board of Education · August 26, 2025
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Summary
District finance staff and project managers told trustees certain 2016 bonds are callable next May; working with financial adviser PFM, the district is exploring a refunding that could yield roughly $5 million in taxpayer savings if interest rates remain favorable.
Miss Cribbs and project manager Mr. Smart briefed the board on capital-project cost updates and a potential refunding of callable 2016 bonds. Mr. Smart said the original approved bond amount was to retain a construction manager and that, after subcontractor bids arrived, the district adjusted…
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