Higley Unified School District will refinance a portion of its outstanding bonds in a move designed to save taxpayers at least $1 million in interest expenses while retiring the district's existing bond debt years earlier than scheduled.
The governing board unanimously approved the refinancing resolution Oct. 27, authorizing district administrators to pursue a transaction involving as much as approximately $34 million in outstanding bonds, provided the refinancing meets financial safeguards.
The district's financial underwriter, Stifel Public Finance, presented a plan involving approximately $25.8 million in existing bonds, with projected savings of $1.7 million based on an earlier market analysis.
