From the Northwest Indiana Times:
The Tri-Creek School Corp. board on Tuesday approved retaining City Securities, of Fort Wayne, for refinancing $4 million from the high school bond issue.
The board agreed to hire bond counsel and direct board attorney Monica Conrad to assist in the process.
Rod Wilson, of City Securities, explained the bond refinancing strategy that would put cash into capital projects, provide savings and reduce debt. He likened the school corporation to a homeowner who opts to refinance.
"This will leave the payments the same," Wilson said. He said the tax rate essentially will remain the same.
The refinancing will deliver $300,000 to $360,000 into district coffers for capital project use.
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http://www.nwitimes.com/news/local/lake/lowell/tri-creek-school-board-oks-high-school-bond-refinancing/article_543f3be6-0403-538f-ae09-73419f9c0ea4.html
