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District hears plan to refinance callable 2016 bonds, propose $15 million new money issue
Summary
A PNC Capital Markets representative proposed selling two series of bonds — a refunding to call 2016 bonds and a $15 million new‑money issue for the elementary project — projecting substantial gross and net savings and preserving the district’s AA2 rating; board members discussed short‑term debt service impacts.
A representative from PNC Capital Markets walked the board through a two‑series bond plan that combined a refinancing of the district’s callable 2016 bonds with a new‑money issuance to support capital needs for the new K–5 school. The presenter said the refinancing opportunity centers on callable 2016 bonds that become callable on Aug. 1, 2026, and described a plan that would sell Series A (refunding) and Series B (new money) in a single large issuance.
The p…
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