Lamar CISD has a strong history of financial excellence and accountability. The District recently refinanced a portion of the outstanding bonds from 2012 and 2016, which will produce an estimated cash savings of $39.980 million over the life of the bonds. This transaction will not extend the life of the previously outstanding bonds.
With the help of the District’s financial advisory firm, Post Oak Municipal Advisors, the pricing took place in early October and the overall interest rate on these bonds decreased from an average of 4.57 percent to roughly 2.25 percent.
“This was a clear opportunity to take advantage of low bond interest rates and save our taxpayers money,” said Superintendent Dr. Roosevelt Nivens. “Good fiscal stewardship is essential in building trust with our community and we’re proud to be able to benefit the students and taxpayers of Lamar CISD.”
More information on the bond refinancing will be presented at the November 16 Board of Trustees meeting.