BENSON -- The Benson School Board approved reselling $2.2 million in general obligation bonds at the regular meeting Tuesday evening.
The sale will reduce the interest rate on the bonds to 3.6785 percent and will save the district $75,633 over the remaining term of the bonds, which ends in 2015, according to David Benson, the district's business manager.
The board had been exploring reselling the bonds and seeking savings on interest paid for the bonds.
"It was better than our estimate for the total savings," Benson said.
The board also heard an update on the learning levy. District voters will decide on a $515 per student levy referendum as part of the Nov. 7 general election. The district has completed a first-class mailing to property owners and general mailing to all postal patrons in the district.
ADVERTISEMENT
The board will host a public meeting at 8 p.m. Oct. 16 at the school for citizens to ask questions and make comments about the referendum. The public meeting will be a part of the regular school board meeting.
