Huron Valley Schools to Refinance 2011 Bonds

The Huron Valley Board of Education discussed the refinancing of 2011 bonds at Thursday night's meeting, and is expected to take action on the item in August.

Janet Roberts, director of community relations, said in a release, "The Huron Valley Board has been very proactive in refunding prior bonds to save taxpayer money. Last winter, the board gave administration permission to monitor the bond market for potential refunding opportunities advantageous to the district."

Roberts said that despite a drop in the state's per-pupil foundation allowance, the credit rating from Standard & Poor's maintained the districts AA- rating.

"We have maintained our strong fiscal status during a very difficult financial period for the state and our schools," Superintendent Jackie Johnston said in a release. "Although we've had to make very tough decisions to maintain our financial stability, Huron Valley taxpayers will benefit by paying less in interest fees."

The district has refunded bonds three times in the last eight years, Roberts said.