Millard School Board Approves Bond Refunding

By: WOWT Email
By: WOWT Email

The Board of Education of Millard Public Schools conducted a refunding of the 2006 bond issue on Tuesday. The refunding involved the issuance of $50 million of refunding bonds netting a total savings of approximately $4.7 million for the District.

The Millard Board of Education continually monitors the District’s investments and moves to refund outstanding bonds when it becomes prudent to take advantage of lower interest rates.

When discussing this latest refunding, Board President Mike Pate stated, “Bond refunding remains an ongoing priority for us and demonstrates good fiscal management. This is the second time this school year we have taken this step saving taxpayers millions of dollars in the process.”

This past October the Board conducted a refunding of its remaining 2003 bonds. The refunding involved the issuance of $14.5 million of refunding bonds resulting in a savings of $1.8 million for the District.

Superintendent Dr. Keith Lutz commented, “The Millard community is well represented by this Board of Education. Millard maintains the fourth lowest cost per student of all 249 districts in the entire state. The Board has always worked hard to balance fiscal responsibilities to our taxpayers while ensuring a world-class education for our students.”

Millard Public Schools is the third largest school district in Nebraska. It operates 35 schools with a total enrollment of more than 23,000 students.

Policy for the District is established by the Millard Board of Education. Members of the Board of Education are President Mike Pate, Vice-President Patrick Ricketts, Secretary Mike Kennedy, Treasurer Dave Anderson, Board Member Paul Meyer and Board Member Linda Poole.

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