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Story Archives: Refinance saves OPSB $650,000
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Refinance saves OPSB $650,000
The Ouachita Parish School Board will refinance $8.6 million in bonded indebtedness in order to save the parish school system roughly $650,000.
Action on the matter was taken Tuesday during the school board's regular meeting. The refinancing concerns bonds that were originally sold years ago to finance construction of new schools in western Ouachita Parish as well as for the remodeling of existing schools in western Ouachita. Repayment of the bonded indebtedness is financed with proceeds from a 1-cent sales tax that is collected in western Ouachita Parish only.
Grant Schlueter of the law firm Foley and Judell of New Orleans said the school board typically refinances its bonds whenever a possibility exists to save the school system money.
Schlueter is the school board's bond attorney. He discussed the bond refinancing with board members Tuesday.
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