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Belton ISD approves $17M bond sale, refinancing to save about $759,000
Summary
Belton ISD trustees voted 7–0 Feb. 23 to authorize issuance and sale of unlimited-tax school building and refunding bonds (series 2026), including a $6 million technology allocation; district financial advisers said refinancing the callable 2015–16 debt lowered average interest to about 2.492% and will save an estimated $759,000.
Belton Independent School District trustees voted 7–0 on Feb. 23 to approve an order authorizing the issuance and sale of unlimited-tax school building and refunding bonds, series 2026, which combines a $6 million technology allocation with a refunding of callable 2015 and 2016 bonds.
District financial adviser Jennifer Ritter told the board the transaction received a Standard & Poor’s rating of AA-minus and that market conditions allowed the district to replace roughly 4% interest on older bonds with an average interest cost of about 2.492%. “What…
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