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District refinancing saves about $4.26 million; board approves publishing budget and tax‑rate hearings
Summary
Financial advisors reported a successful refunding sale that will save an estimated $4,261,018.16; the board adopted the bond resolution and approved publishing notices for August budget and revenue-neutral-rate hearings as part of the 2026–27 budget process.
Shawnee Mission’s financial adviser told the board the district achieved a refinancing of outstanding 2016 general obligation bonds, securing a final interest rate of 3.12% and an estimated savings of $4,261,018.16.
"The total savings ended up being $4,261,018.16, to be exact," said David Arterberry of Stifel Nichols. The board adopted the resolution authorizing the issuance and sale of the general obligation refunding bonds (voice vote carried 6-0). Advisers noted that market timing was material to achieving the result.
CFO Allison Storowski also presented the next steps in the 2026–27 budget process: the board authorized publishing two public notices in the Johnson County Post for hearings on the budget and the intent to exceed the revenue-neutral rate. The proposed tax rate was estimated to drop about 0.5 mills to 50.363 mills, while assessed valuation projections and other factors will be finalized in October. The public hearings are scheduled for 6 p.m. on Aug. 24 in the boardroom, followed by board action on the budget.
