For the Reporter
The Auburn School District has refinanced outstanding bonds, resulting in a total savings to taxpayers of $3,263,803 this past year.
The district said it recently took advantage of favorable municipal bond market conditions and sold approximately $45 million of bonds for the Auburn High School Modernization and Reconstruction Project. The bonds were sold on Jan. 29 at an interest rate of 3.4 percent.
Due to favorable market conditions, the district also refinanced approximately $3.3 million of outstanding bond debt. The actual savings totaled 6.86 percent, which equates to almost $250,000.
“This is great news for our taxpayers. With these favorable market conditions, we were able to exceed our saving expectations in both the refinancing of the prior bonds and the future savings due to lower interest rates on the remaining bonds for the Auburn High School project,” said Mike Newman, school district deputy superintendent.
Moody’s Investors Services also reaffirmed the district’s bond rating as Aa2. This strong rating is attributed to the district’s excellent financial management, growing tax base, higher than average wealth levels and moderate debt levels.
Elsewhere
Kent’s Sophia Wagner, an Auburn Mountainview senior, has been named one of more than 3,000 candidates for the U.S. Presidential program. Candidates were elected from nearly 3.4 million students who are expected to graduate from U.S. high schools this spring. Inclusion in the program is a high honor, recognizing the student’s academic and artistic achievements, leadership qualities, character and involvement in community and school activities. Wagner, daughter of Daniel and Brigitte Wagner, scored 2380 on her SAT. In addition to her academic success, Wagner earned first-team All-South Puget Sound League, The News Tribune and Seattle Times’ All-Area team honors for her play in soccer. Wagner attended Pine Tree Elementary and Mill Creek Middle School in Kent before transferring to Auburn Mountainview. …
Auburn Riverside High School’s Books for Africa club has a book drive under way through March 7. The ARHS club partners with the national Books for Africa organization to collect and send books to Africa. Books for this year’s drive can be dropped off in the main office at the school, 501 Oravetz Road.
