A 1994 Bond Issue was refunded (re-financed) in 1999, saving the taxpayers significant dollars over the term of the issue, and now another window is available to the district to exercise a refunding option.

At the September board workshop, Director of Finance and Operations Chuck Klaassen had estimated that the district could experience a savings to the taxpayers of almost $2 million over the remaining term (13 years). Updated projections from Ehlers are placing the projected total new savings around $1.78 million in net present value benefit.

Carolyn Drude from Ehlers presented the resolution and financial information. She explained that this does not refund taxpayers' money, but it pays down the debt service the district owes. She suggested that at the board meeting on October 27 there would be a presentation of the competitive sale of the bonds (hopefully interest rates would turn-around by then). If the conditions are not yet favorable to do the sale, they will wait and keep watch until interest rates return to an acceptable level.

At their September 22, 2008 meeting, the school board approved the resolution calling for the sale of General Obligation School Building Refunding Bonds, Series 2008A.