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District reports bond sale closed at 2.95%, better than November projection
Summary
Assistant Superintendent Dr. Kristin Smetana told the board that District 208's tax-exempt working cash fund bonds closed at 2.95% interest, beating the 3.29% rate projected in November. The board was briefed during its Feb. 10 meeting; no vote was required.
The Board of Education was briefed on the district's recent tax-exempt working cash fund bond sale during its Feb. 10 meeting. Assistant Superintendent Dr. Kristin Smetana told members, "The bonds closed at an interest rate of 2.95% which is better than the (3.29%) that was projected to the Board of Education in November."
Board members received the finance update as information; there was no formal vote recorded on the bond closing at the meeting. The district noted the lower interest rate reduces expected borrowing costs compared with the earlier projection and staff indicated they would provide additional budgetary context in future materials if needed.
