USD 480 Board Meets, Refinances Bonds

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.