Tuesday, January 31, 2012

Reminder that Kuna school board is meeting tomorrow

Just a reminder that the Kuna school board is scheduled to meet at 6 p.m. tomorrow, Wednesday, Feb. 1, at the district office, 711 E. Porter St.
School board members will hold an open session on school district planning beginning at 6 p.m. The school district is preparing to implement a series of measures to comply with Idaho’s “Students Come First” education reform laws, including technology upgrades and laptops for teachers and students.
In addition, at 7 p.m., board members are scheduled to approve a personnel report then take action on a bond refunding resolution.
The Kuna school district is considering refinancing a portion of a 2004 bond in order to save the district potentially hundreds of thousands of dollars.
As interest rates have plummeted, it becomes advantageous for debtors to refinance their debt, similar to a homeowner refinancing a mortgage.
The 2004 bond, passed by voters within the Kuna school district, was used to build Reed and Crimson Point elementary schools.
The original amount of the bond was $15.23 million. The current outstanding portion of the bond is $12.86 million. The district is planning on refinancing only $8.02 million of the bond. With a refinance, the district has a goal of saving at least 6 percent on the remaining life of the bond, or about $500,000. Given the current market, the district could save as much as $800,000.

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