On April 23rd the Kuna Joint School District closed on the refinancing of a portion of a bond that was issued in 2004 with a 20 year maturity. The terms of the refinancing will save District property owners approximately $300,000 in future property tax obligations by lowering the interest rates that will be charged on the outstanding debt.
This refinancing is the second and final step associated with refunding the 2004 bond issue. The first step was completed in March of 2012 when the District completed a debt package that saved property owners approximately $1,000,000 in future property tax obligations.
Proceeds from the issuing of the 2004 bond were used to construct both Reed and Crimson Point Elementary schools.
The District will continue to monitor the interest rate environment and debt market conditions for any favorable circumstances that would allow for savings on refinancing the bond issued in 2008.