La Grange ISD to Refinance Part of 2017 Bond Debt

At Monday night’s board meeting, the board approved the issuance of unlimited tax refunding bonds to refinance a portion of the district’s outstanding 2017 bond debt.

The proposed refunding is intended to take advantage of favorable market conditions and lower interest rates, resulting in an estimated $2.5 million in debt service savings for district tax payers over the remaining life of the bonds, without extending the final maturity of the debt.

This action does not authorize new debt for new projects; rather, it refinances a portion of the district’s existing 2017 bond debt to achieve anticipated interest cost savings for taxpayers.