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Jefferson City School Board to issue new bonds

Jefferson City School Board to issue new bonds

Move expected to save district $2 million in interest

November 18th, 2012 in News

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 ....