The Piper school district has refinanced bonds to take advantage of low interest rates, and has saved more than $379,000.
At the January Piper Board of Education meeting, the board authorized the district’s financial consultant, George K. Baum and Co., to take advantage of the current low interest rates and put out for bid the refinancing of some of its general obligation refunding and Improvement bonds hoping to save the district a significant amount of money.
At the Feb. 11 board meeting, Todd Burris with George K. Baum and Co. said that during a 15-year period, the school will save $379,687. A very low interest rate was received because of the district's healthy fund balance and financial management, according to Burris.
“The district is very pleased to have been able to save our patrons such a large amount of money and to get such high praise for our financial management," Superintendent Steve Adams said.