Jefferson City School Board to issue new bonds
Move expected to save district $2 million in interest
Sunday, November 18, 2012
The Jefferson City School Board on Monday will consider a resolution to sell $9.2 million in general obligation bonds, a step school administrators expect will reduce the amount of interest the district pays over time.
The meeting is scheduled for 6 p.m. at the district’s administrative offices, 315 E. Dunklin St.
Chief Financial Officer Jason Hoffman said similar bonds originally were issued in 2007; however interest rates have fallen since then. But because “call protection” is involved — unlike with a home mortgage, the bonds can’t be refinanced at will — the bonds can’t be bought back until ....