Wednesday, November 15, 2023
Woodland Public Schools refinanced the bonds issued to construct Woodland High School, saving taxpayers more than $1.5 million.
In a strategic financial move, Woodland Public Schools refinanced the bonds used to construct Woodland High School in 2015, resulting in saving Woodland’s taxpayers one and a half million dollars.
Woodland’s citizens will directly benefit from the refinancing as those savings directly translate to lower property taxes.
You can think of a bond refinancing in a similar way to how a homeowner would refinance a mortgage.
When interest rates drop lower than when the bonds were initially financed, a school district can refinance the bonds by selling replacement bonds at a lower interest rate, providing significant savings over the remainder of the life of the bonds.
By refinancing its bonds, Woodland Public Schools has secured lower interest rates which will significantly reduce the amount of interest paid over the life of the bonds.
The decision to refinance bonds was made with the utmost transparency.
Woodland Public Schools aims to keep its stakeholders informed about financial decisions that impact the community.
The successful bond refinancing is a testament to Woodland Public Schools’ commitment to both quality education and fiscal responsibility.
By making sound financial decisions, Woodland Public Schools is not only securing its financial future but also creating a stronger, more vibrant educational environment for its students.