Ada bond refinancing saves $1.3M

ADA — The refinancing of the Ada Schools building bond issue will save taxpayers more than $1.3 million, it was reported at Thursday’s board of education meeting.
The district, with assistance from Ross, Sinclaire and Associates, LLC, refinanced its 2002 School Facilities Construction and Improvement Bonds to take full advantage of the current conditions in the bond market.
Treasurer Christy Beaschler said the $5,229,997 total bond refinancing will save taxpayers of the district approximately $1,331,440 over the life of the old issue. It is about a 19.5 percent savings.
“The Board of Education wants to take every opportunity to reduce taxes to our constituents, and with favorable bond market conditions, we think this refunding provides a great opportunity to save money for the community,” Beaschler said.

By TY THAXTON
Times staff writer

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Posted by Kenton Times on April 20, 2012. Filed under Local News,Recent Headlines. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry