At the North East ISD Board of Trustees meeting held on Monday, District finance leaders shared with trustees exciting news regarding NEISD’s recent bond refinance.
North East ISD sold taxable refunding bonds to provide District taxpayers savings in future debt service payments. This refunding that occurred on Oct. 6, will save the District and its taxpayers $44.5 million. That translates to a $2 million savings per year over the next 22 years.
“One of the things that led to the dramatic success of this financing, is the strength of North East ISD,” said Dusty Traylor, Managing Director with RBC Capital Markets in San Antonio. “That’s reflected in your bond ratings, and that’s a reflection of the administration, as well as the decisions this board makes. So that is one of the things that helps to drive investor demand for your bonds, and that was a key component to the success of this transaction.”
Bonds allow NEISD to pay for building and improvement projects needed throughout the District. Tax dollars help fund these bonds, so this refinance savings directly and positivity impacts District taxpayers.