Mexico Public Schools Refinance Bonds For Significant Interest Savings

The Mexico School District is refunding general obligation bonds for a large savings.

The Board of Education established a final terms committee that was charged with refinancing the bonds to take advantage of lower interest rates.

The sale of four million four hundred seventy five thousand dollars in bonds resulted in a savings of more than 1.4 million dollars in interest over the life of the bonds.

The bonds were made available to local financial institutions as part of the marketing procedure with HomeBank and Callaway Bank each buying one million dollars of the bonds.