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Refinancing of Flatonia ISD's 2019 bonds yields about $1.9 million in savings, board hears
Summary
Business Manager Rodney Stryk told the board the previously authorized refinancing of the district's Series 2019 bonds, aided by two interest-rate cuts and an Aa3 credit rating, saved the district roughly $1.9 million.
Flatonia ISD realized approximately $1.9 million in savings after the board-authorized refinancing of the district’s Series 2019 bonds, Business Manager Rodney Stryk reported Nov. 10. Stryk told trustees that two interest-rate cuts since the board granted authority to the superintendent, along with the district’s Aa3 credit rating, combined to produce the savings.
Superintendent Chris Sodek had been granted authority at the prior meeting to complete the transaction, Stryk said. Trustees did not take any additional action on refinancing during the Nov. 10 meeting; the report was presented as part of routine financial updates.
