Refinancing bonds saves $2.5 million
Susan Escure, director of finances, said the district started the refinancing process in January. When the bonds were priced Feb. 14, she said, the district got such a good rate it figures to save $2.5 million in financing costs by the time the issue expires in 2028.
“It went well, with no surprises,” she said.
She said she was pleased to finish the refinancing in February, before the looming federal sequester promises to introduce uncertainty into the market. That could make investors wary of buying bonds, she said.