Board recommends resolution to refinance bonds

Tamaqua Area School District appears poised to save money through the refinancing of bonds.

That’s after the school board’s finance committee on Tuesday recommended to have the district’s business manager continue to prepare documents and a resolution to refinance the 2011 note and a portion of the 212 A bonds for the purpose of debt service savings.

The district could eventually save $376,000 through the refinancing of bonds, with the plan being to issue one new bond issue for the district’s 2011 note, and 2012 A bond issue, as announced at last month’s meeting.

Business manager Connie Ligenza said the 2011 note was for an extensive energy savings project, while the 2012 A bond issue was for the refinancing of debt service that was outstanding for the middle school.

A parameters resolution will be brought to the board to vote on when it meets at 7:30 p.m. Tuesday.

If the board were to take that action, Ligenza said the district would realize the savings in either fiscal year 2018, or 2018 into 2019.