Braham School District acts to reduce costs by refinancing bonds

At its Sept. 16 meeting, the Braham School Board approved a resolution authorizing the sale of bonds to refinance existing debt at better interest rates.

The District originally incurred the debt in 1992 and has refinanced it twice before, each time to obtain lower interest rates. In light of current bond market conditions, the District and its financial advisors believe that another refinancing will once again result in lower interest costs for the District.

It is estimated that the new bonds will save the District approximately $123,000 over the remaining life of the bonds. This refinancing is part of the District’s continuing effort to provide quality educational services as efficiently as possible.