Minot Public School District refinancing bonds
Published: Feb. 17, 2021 at 10:32 PM CST
MINOT, N.D. – The Minot Public School board voted to refinance two bonds at Tuesday’s school board meeting.
The move could mean a million-dollar saving for the district.
Business Manager Scott Moum said the original bond was $9.9 million in 2014 and $7 million in 2011.
Those will be put together into one bond of roughly $15.5 million.
“Their estimate based on where existing rates have been coming out is that we will save somewhere between $1.5 and probably $1.65 million over the course of the lifetime of these bonds,” Moum told the board.
The lifetime of the bonds is about 12 years.
The board will vote on approval of the sale of those bonds in March.
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