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Board approves bond refunding, cites $508,341 in estimated taxpayer savings
Summary
The board approved a roll‑call resolution to refund 2016 school building bonds and issue Series 3 bonds; district staff said the refinancing produces a net savings of $508,341 and scheduled closing for March 12.
The Mount Pleasant Public School Board of Education voted to approve a resolution to refund the district’s 2016 School Building and Site Bond Series and to issue Series 3 bonds, a financing action the district said will lower interest costs and preserve funds for the district’s capital projects.
Ginger, presenting the financing update, told the board the district completed bond pricing and the recommended resolution would finalize the refunding and issuance. “All in all, we had a net savings of $508,341, which is direct savings to our taxpayers,” Ginger said. She said the district’s closing is scheduled for March 12.
Board member Tim (mover) initiated the resolution and a second was given; the board conducted a roll‑call vote and approved the measure. Members noted that the board previously received a detailed presentation on the refinancing at earlier meetings and thanked district finance and bond‑counsel staff for the work.
The board did not revise the resolution language at the meeting; staff said they would proceed to closing and complete the administrative steps required by bond counsel.
