Schools
Schools Save Nearly $200,000 in Refinancing
The University City School District is refinancing 2004 bonds.
The School District of University City is saving nearly $200,000 by refinancing 2004 bonds.
The school board voted Thursday to approve the refinancing. The sale of $3.1 million in bonds saved the district $199,518 in interest.
The bonds were due to mature between 2015-19.
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Lorenzo Boyd of Stifel Nicholaus told the board that interest was high in school bonds and the district was able to get its interest rate to 1.45 percent.
Board Director Tom Peters praised the work of the city's bond council for continuing to look for savings for the district.
Find out what's happening in University Cityfor free with the latest updates from Patch.
"Thank you," he said. "This is great news about the district's financial situation."
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