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USD 416 refinances $8.6 million in bonds PDF Print E-mail
Education
Written by Kristen Waggener   
Wednesday, 18 February 2009 08:00
Taking advantage of economic conditions, Louisburg USD 416 Board of Education members approved refinancing about $8.6 million in bonds for not less than 3.5 percent savings of the outstanding debt.

Steve Shogren of George K. Baum Co. visited the board in a special meeting Monday night to describe optimum market conditions to refinance bonds that were initially issued in 1999.

“We’ve had a good market correction in the last 45 days,” Shogren told board members.

Shogren presented rates from other school districts that were recently refinancing their bonds, and said it is likely Louisburg could find similar rates in the near future.

“The markets can move, but these are realistic rates today,” he said.

Refinancing would save the district about $362,000 in the long run.

Board members authorized the refinancing of the bonds, giving Superintendent Rick Doll and district staff the authority to work out the specifics of the transaction. 
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