LISD Board Announces Bond Refinancing and Early Payoff to Save District Over $10 Million.
As part of the Longview Independent School District’s debt management plan, the Board of Trustees took action at the October 5th Board meeting.
The action authorized District officials to pay off early the Series 2011 bonds with available cash. Also, District officials were permitted to complete the refinancing of a portion of the Series 2008 bonds to lower the interest rate to provide interest cost savings.
The refinancing of a part of the Series 2008 bonds and the early payoff of the Series 2011 bonds are expected to generate over $10 million of interest cost savings over the life of the bonds.