CD School Board updates, 02.08.09

The Central Dauphin School Board will hold a business meeting Monday night at the Lecture Hall of Central Dauphin East High School, 7 pm. To view the agenda, click on the plus sign for 02/09/09, and then click on the plus signs to get details about specific agenda items, including downloadable PDF files of documents.

In other CD news, the school district has completed refinancing a $6 million bond floated in 2003 and netted $250,000 in savings, according to Karen McConnell, the district's business affairs director. She said the savings total was $77,000 higher than estimated, and she attributed the successful outcome to the district's recently increased bond rating. Public Financial Management, a Harrisburg-based financial and investment advisory firm, handled the transaction.

And wrapping things up with a head scratcher, the district recently ran a public notice in The Patriot-News about the school board approving a Basis Swap, also referred to as an interest rate management plan, for $58.5 million. I'm still trying to understand this financial gambit. More on this later ...

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