Pequea Valley seeks $500,000 in bond savings

The Pequea Valley school board has approved the refinancing of bonds if the move can produce a $500,000 savings.

At its May 6 meeting, the board approved a resolution that allows Scott Kramer of RBC Capital Markets to start the refinancing when the half-million-dollar mark can be met.

In an earlier May meeting, chief of finances and operations John Bowden said the district has existing bonds with interest rates ranging from 3.5 percent to 4.75 percent.

If PV refinances its debt, it could get rates between 0.5 percent and 2.05 percent. The savings, Bowden said, would go into an employee healthcare reserve and leave more funds available to help balance the budget.

Read on the Lancaster Online →

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