BonnerSprings.com

The school district may see hundreds of thousands of dollars-worth of savings in the near future.

During Monday night’s USD 204 Board of Education meeting, members began the first of what may turn into several discussions regarding the refinancing of a portion of the 2000 bond issue. Leading the discussion was David Arteberry, senior vice president of George K. Baum and Company that would serve as the underwriter for the refinancing, who said the portion of the 2000 bond issue to be refinanced would be the balance left over after part of the issue was refinanced in 2005.

“Normally, sometimes the bond issues are for new projects,” Arteberry said during the meeting. “But also periodically there’s opportunity to refinance or, what we call refund, old bond issues (that would help) to lower interest costs on the debt and save the district some money.”

If the district decides to refinance the bond, Arteberry said, it could see close to $600,000 in savings and the interest rate on the bond issue could be lowered from 5.53 percent to 3.07 percent.

More of this story can be found in this week’s issue of the Chieftain, out Thursday.

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