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District hears plan to refinance bonds; officials estimate $2.7M–$4.6M in potential taxpayer savings
Summary
A Dave Scott Company representative told the board the district could refinance portions of 2008-era bonds to lower interest costs; options include level annual savings (about $2.7 million net in one scenario) or shortening terms for larger lifetime savings (up to $4.5–$4.6 million). The board was offered an April action timeline.
Mark Pharaoh of Dave Scott Company presented debt-management scenarios to the board, outlining options to refinance bonds issued from prior elections and lower interest costs for taxpayers.
Pharaoh summarized the district’s assessed-value growth and noted that the district has bond series that are optionally prepayable; two previously refunded series (2015 and 2016 refundings of 2008 bonds) could be refinanced again. He presented two common…
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