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Central Consolidated board approves prepayment plan to reduce bond interest and preserve tax-rate eligibility
Summary
The school board approved a defeasance resolution to prepay portions of the district's 2014 and 2015 general obligation bonds using excess debt-service cash, preserving eligibility for state waivers and saving residents an estimated $571,000 in interest over three years.
The Central Consolidated School District board voted to authorize district staff to transfer excess debt-service cash to defease portions of the 2014 and 2015 general obligation bonds, a financial move the district's advisers said preserves the district's tax-rate eligibility for state capital outlay waivers and reduces interest costs.
Nick, a Stifel…
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