Home News-Free BPSB bond refinance saves nearly $700k

BPSB bond refinance saves nearly $700k

Courtesy Photo | Bossier Parish School Board

From Staff Reports

BENTON — Recent action taken by the Bossier Parish School Board will save taxpayers nearly $700,000.

A total of $25 million in bond funding was received and deposited into Bossier Schools’ account to fund ongoing construction projects across the district. This is the result of the Bossier Parish School Board selling a fourth round of bonds in April to take advantage of historically low interest rates.

Because of lower annual rates, board members also refinanced a series of 2007 and 2008 construction bonds. This action will save the taxpayers of Bossier Parish $690,000 over the next 13 years.

“Our school system has been blessed with a high level of confidence from voters approving this historic bond referendum,” said Glen Bullard, President of the Bossier Parish School Board. “However, we have never lost sight of the fact we must be good stewards of those funds. We have enjoyed an extraordinary bond situation, both selling construction bonds at this attractive rate as well as the door being opened to refinance existing bonds, thus saving taxpayer dollars.”

Bossier Parish Schools is in the third year of a $210 million construction program approved by parish voters in April 2012.

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