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Board hears bond-refunding options that could save roughly $100,000
Summary
Bernardi Securities presented refinancing options for the district's 2017 bond; the board was told refinancing could save money without lengthening the bond term and expects a resolution next month.
Kevin Wills, an investment banking specialist with Bernardi Securities, outlined potential options to refinance Rankin School District's 2017 bond and said the district could realize savings depending on interest-rate movements. "The District has the opportunity to save money without adding any additional length of time on the bond," Wills told the board.
Superintendent Dr. Gordon said the board was comfortable with moving forward to next steps and that the district would consider a formal resolution at the November meeting. The minutes record an estimated savings figure of approximately $100,000; board members and administration noted the fee for Bernardi's services would be built into those savings.
