Louisville bond refinance saves taxpayers $1.4 mil
The Louisville City School District announced that it will save taxpayers $1.4 million by refinancing a bond that was passed in 2008. School districts use bonds to borrow money to pay for buildings and facilities. When a bond is refinanced at a lower interest rate, taxpayers pay less than anticipated.
“We are continually looking for ways to cut costs that won’t affect the quality of education we provide our students” said Louisville Superintendent Michele Shaffer. “Bond refinancing is just one of the ways we can accomplish this goal.”
Bond refinancing takes collaboration and time from district representatives, attorneys and financial representatives. “When voters approve school bonds and levies, they’re expressing their faith that the administration will make the most of their investments and look for ways to save and reduce costs,” said Louisville City Schools Treasurer
Derek Nottingham. “We feel it is our responsibility to ensure monies are being spent as efficiently as possible.”
“We know that our community supports our schools, and as stewards of taxpayer dollars, we felt this bond refinancing was the right thing to do,” said BOE President Frank Antonacci. "It’s not the first time the district has used refinancing to save money."
The district was able to take advantage of low interest rates in 2010 to refinance bonds originally issued in 2001. Both bonds were issued to finance the construction of Louisville Elementary and Middle Schools and renovations at North Nimishillen Elementary and Louisville High Schools. The total savings from both bond refinancing equals $4,066,275.35.
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Winter Weather is on its Way!
School will either be delayed or closed on days when hazardous weather conditions are present. Predicting hazardous weather in Ohio is always challenging, and the decision to cancel school is usually made very early in the morning. Delays and closings will almost always be announced by 6:30 a.m. Please confirm any delay or closing information which will broadcast on the following television and radio stations, or the newspaper website.
TELEVISION STATIONS: Channels 3, 5, 8, 19
RADIO STATION: WHBC (AM 1480, FM 94.1)
A two-hour delay may also be announced if weather conditions are forecasted to improve during the day. A two-hour delay simply means that school will be delayed by two hours in the morning, and students should report to their bus stops or school buildings two hours later than their regular time. Buses will "pick up" two hours later than the regular times. All school buildings will operate on an "adjusted" schedule, and students will be dismissed at the regular times and on the regular bus return trip times. After a two-hour delay is announced, you may assume that schools will be open that day (with a two hour delay). Rarely, if ever, will Louisville Schools announce a two-hour delay and then cancel school.
It is important to note that once schools are open and in session, Louisville Schools will rarely, if ever, send children home from school early. We will make every effort to keep classes in session until the regular dismissal time. Parents have the right to keep their children at home if they believe weather conditions are hazardous and school is not canceled. In those situations, please contact the school your child attends to report the absence and send a written note with your child upon return to school.
Please do not call the school for delay or closing information. Any scheduled events, athletic practices, games or other activities will be announced on the same communication networks later that day or with the Blackboard Connect emergency calling system. When school is canceled, all activities and practices are canceled also.
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