SAXTON â Meeting in its voting session Monday evening, the Tussey Mountain school board approved a resolution to refinance its 2017 and 2017A bonds, resulting in a savings for the school district.
The motion authorizes the issuance of federally taxable general bonds on a parameters basis to refund the districtâs general obligation bonds (subject to the stated minimum savings). The original financing involved improvements to the district schools at Saxton, Defiance and Robertsdale.
In January, Audre Bear, public finance investment banking director with Piper/Sandler of Camp Hill, outlined several scenarios for the district to consider. Bear told school board members that current interest rates are low, pointing to considerable savings for the district.