Embedded Files
Over the years, the Board of Education has approved pre-levying debt during the annual aid/levy (budget) process. Simply stated, pre-levy property taxes will be used to pay off outstanding general obligation debt earlier than the original 703 debt schedule.
Over the years, the Board of Education has approved pre-levying debt during the annual aid/levy (budget) process. Simply stated, pre-levy property taxes will be used to pay off outstanding general obligation debt earlier than the original 703 debt schedule.
Recent District history of pre-levying:
Recent District history of pre-levying:
- Fiscal Year 2022-2023 Amount $560,000 callable 5/1/2024, original maturity 5/1/2033 of $350,000 and $210,000, original 5/1/2034
- Fiscal Year 2019-2020 Amount $260,000 callable 5/1/2024, original maturity 5/1/2034
- Fiscal Year 2018-2019 Amount $170,000 callable 5/1/2024, original maturity 5/1/2034
- Fiscal Year 2017-2018 Amount $110,000 callable 5/1/2024, original maturity 5/1/2034
On 5/1/2024, the District reduced the Series 2014 outstanding debt early by the principal amount of $1,100,000. The cost savings (interest) to the District by pre-levying the issues above was $346,125.
On 5/1/2024, the District reduced the Series 2014 outstanding debt early by the principal amount of $1,100,000. The cost savings (interest) to the District by pre-levying the issues above was $346,125.
Page updated
Report abuse