Auburn School District sells bonds in favorable market to launch high school project


January 14, 2013 · 9:55 AM

The Auburn School District recently took advantage of favorable municipal bond market conditions and sold approximately $59 million of bonds to launch phase one of the Auburn High School Modernization and Reconstruction Project.

The bonds were sold on Jan. 8 during all-time low 2.7-percent interest rates.

The school district also refinanced approximately $19 million of outstanding bond debt. The actual savings totaled 13.29 percent, which equates to more than $3 million. This exceeded the savings target of 7.5 percent set by the Auburn School Board.

The high school project officially kicks off with a groundbreaking ceremony at 1:30 p.m. Sunday, Feb. 24, in the Auburn Performing Arts Center parking lot, 700 E. Main St.

Comment on this story.

COMMENTING RULES: We encourage an open exchange of ideas in our online community, but we ask you to follow our guidelines for respecting community standards. In a nutshell, don't say anything you wouldn't want your mother to read. Please see our FAQ if you have questions or concerns about using Facebook to comment.

So keep your comments:

  • Civil
  • Smart
  • On-topic
  • Free of profanity

We ask that all participants own their words by logging in with their Facebook account. It's a simple process that will take seconds and helps keep our comments free of trolls, cranks, and “drive-by” commenters. We reserve the right to remove comments from anyone using screen names, pseudonyms or false identities. Please refer to our Terms of Use for full detail on participating on our site.