Tony, the district’s debt adviser, presented the district's debt profile and market context and said Pine‑Richland holds an enviable weighted average coupon of about 3.44% and a weighted average maturity near 5.7 years. He described much of the outstanding debt as legacy borrowings from district growth periods and reviewed how prior refundings shortened maturities and lowered annual debt service.

On refinancing prospects, Tony said the series 2014B issue was the closest to the district's traditional net‑savings threshold (3%); at the time of the presentation the estimated net savings for the 2014B stood at about 1.7%. He explained that a favorable change in market rates — for example a near‑term shift in the yield curve if the Federal Reserve's path and market reaction align — could move the opportunity into the district's target range and produce estimated net savings in the order of $400,000 for that issue. The 2015B series was farther from the threshold and other issues had less runway to achieve savings because of remaining low coupon rates or upcoming final maturities.

The adviser cautioned that restructuring debt to reduce near‑term payments (by pushing principal further into the future) increases total interest cost and can signal liquidity stress to rating agencies; he characterized restructuring as a last‑resort tool rather than a routine approach. He also explained the procedural step the board would see in the regular meeting: a motion to authorize staff to obtain further information and parameters from bond counsel for potential refundings, and described the role of bond counsel in preparing a debt incurrence resolution that complies with the Local Government Unit Debt Act.

Board members asked whether additional reserves or paying down debt could lift the district’s AA credit profile further; the adviser said materially higher liquidity or substantial debt paydown over multiple cycles would be required to change ratings quickly. The board did not authorize a refunding during the presentation; staff will return with more detailed numbers and bond counsel documentation if and when conditions warrant deeper action.