USD 480 Board Meets, Refinances Bonds

Joe Denoyer - January 26, 2021 3:29 am

USD 480

The USD 480 Board of Education met Monday evening and after approving the Consent Agenda, approved the refinancing of the Districts Bonds. Currently, USD 480 has $114,185,000 in outstanding bonds. The average interest rate on these bonds is 4.28%. With the refinancing of the bonds, the market rate is 1.52%, the estimated savings in interest is $6,312,326 over the life of the bonds. This will allow the bonds to be paid off 2 years faster.

The Board approved staff to bid but not to exceed $10,000 at auction for the purchase of a forklift for the District, and heard a report and discussed the  Technology Replacement Schedule for Chrome books at the schools.

 

 

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