The Scottsbluff School District has finalized the refinancing of 2015 General Obligation Bonds used to finance a portion of the high school renovation and expansion, a move that will ultimately save district taxpayers just over $3.6 million dollars.
District Director of Finance Marianne Carlson and Andy Forney with D.A. Davidson & Co announced the results of the refinance during the August Board of Education meeting.
While taxpayers will not see a reduction in the yearly amount needed to pay off the 2015 bond, the district kept the levy the same to secure a lower interest rate. The refinancing will means that particular GO bond series will be satisfied a year earlier, leading to the savings.
District officials say they will continue to monitor interest rates through next January for when the 2016 General Obligation Bond, also part of the high school project, can be refinanced as well.