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PFM outlines debt‑restructuring plan to smooth near‑term payments; board authorizes staff to pursue options
Summary
A PFM adviser told the East Stroudsburg Area School District board a proposed restructuring of 2017 bonds and 2021 notes could lower near‑term budget pressure by smoothing payments; the board authorized staff to begin a dual‑track bank‑loan RFP and bond comparison process and will consider parameters in June.
Jamie, a PFM consultant, presented a debt‑restructuring plan the board advanced that aims to smooth large upcoming principal payments and reduce near‑term budget pressure.
Jamie said market conditions are “pretty much right on historic averages,” and walked the board through a dual‑track approach: solicit competitive bank‑loan RFPs, compare true interest cost against bond‑market options, then recommend whichever produces the best economic answer for the district. The plan targets portions of the 2017 AA/AAA issues and portions of the 2021 notes that carry September‑1 principal payments and would…
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