Home News Local BPSB pay off bonds, saving $2 mill

BPSB pay off bonds, saving $2 mill

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The Bossier Parish School Board took action Thursday to save taxpayers more than $2 million.

The School Board will sell $25 million in bonds earlier than originally scheduled to take advantage of lower interest rates and, in turn, pay off school bonds issued in 2006 that currently carry a higher annual percentage rate. By calling the 2006 bonds and paying them off 12 years early, this will save the taxpayers of Bossier Parish over $2 million in interest.

In addition, because of Bossier Schools’ excellent bond rating, the school system can capitalize on the current low interest rate and sell $25 million in bonds for on-going construction projects approved by voters in April 2012.

“The Bossier Parish School Board is ever cognizant of the fact parish residents entrust their representatives to use taxpayer dollars wisely,” said Brad Bockhaus, President of the Bossier Parish School Board. “This is one example of the importance the board places on its fiduciary responsibility. The Board will continue to explore opportunities to save money for the taxpayers of Bossier Parish so that we can give every student the environment to be successful. The $2 million in savings will be used to develop a quality education for Bossier students.”

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