Ironwood Schools looking to refinance 2 bonds

Written by on April 16, 2019

IRONWOOD – At last night’s Ironwood Area Schools board of education meeting last night the board approved a resolution exploring the possibility of refinancing its older bonds. The measure would be for two of the district’s bond measures a $1,655,000 measure from 2002 and a $1.4 million measure from 2009 the refinance is in hopes of a lower rate to save the district money. Superintendent Travis Powell said the district would only proceed with refinancing the bonds if it was determined the savings would be more than the costs to refinance them. The tax rate the district’s taxpayers pay likely wouldn’t go down, however, refinancing would allow the district to pay down its debt faster so the millages can come off the tax rolls sooner. Although the total savings still needs to be determined, information at last night’s meeting indicates it could be around $50,000. Also at last nights meeting the board approved the personnel report for the month, which included hiring Kaye Ortman Peters as a 7-12 grade English teacher and Joseph Metzger as golf coach, and accepting Tess Paakola’s resignation as the business and computer teacher.

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