Bond financing took up most of the time at the Wednesday night session of the Hamilton Southeastern (HSE) School Board.

First, the board voted to refinance 2 bonds issued in 2014.  Most bond debt has a call date, generally 10 years into a 20-year bond.  Both the 2014 bonds were 20-year debt instruments.  It is estimated the refinancing will save the school corporation $1.5 million in interest payments over the final 10 year life of the bond.  This debt currently carries a 5% interest rate, and experts say the current rate is 2.94%, although rates can vary daily and there is no guarantee what the interest rate will be the day the bonds are refinanced.

Secondly, the board discussed the first step in issuing general obligation bonds in the amount of up to $49 million.  There was a public hearing and no one chose to speak.  The bonds will be used to fund part of the 10-year plan to handle various needs, such as buildings, technology and school buses.  School officials said they structured this debt to not require any tax rate increase.  The board is scheduled to vote in this bond issue in May.