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Mid Valley SD board approves resolution to allow refinancing of 2020 bonds
Summary
The Mid Valley School Board voted to adopt a parameters resolution that lets district staff move quickly to refinance the district's callable 2020 bond issue if market rates fall; the board heard a presentation on timing, fees and state approval requirements.
The Mid Valley School Board voted to adopt a parameters resolution that authorizes the district to refinance its general-obligation 2020 bond issue if market conditions become advantageous.
At a presentation to the board, the district's financial advisor explained the timing window and rationale, saying, "1 of your bond issues, the 2020 bond issue, is callable in March 2025," and that the district may legally begin refinancing 90 days before the call date. The advisor added that a Fed action earlier that day—"There was a 50 basis point cut by the Fed this…
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