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Sunnyside board authorizes bond refunding; financial advisor cites about $1.2–$1.4M potential savings
Summary
The Sunnyside Unified District governing board adopted a resolution authorizing staff to proceed with refunding callable bonds within set parameters (max principal ~$35.11M, minimum present-value savings 2.75%); Stifel estimated potential NPV savings in the $1.2–$1.4 million range depending on market conditions.
The Sunnyside Unified District governing board on October 15 voted to authorize a refunding of certain outstanding district bonds and approved the annual financial report for fiscal year 2023–24.
Randy Stein, a financial advisor with Stifel, told the board the team identified callable bonds that could be refunded for taxpayer savings and presented a sensitivity analysis showing a sample scenario with projected net-present-value savings of about $1.4 million (approximately 4.28 percent). Stein said the projected savings change daily…
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