District Refinances Lake City Bonds

The Coeur d’Alene School District announced a $100,000-per-year savings to taxpayers after refinancing its outstanding Lake City High School bonds.

The lower interest rate will save $1.25 million over the next 14 years. The bond for the new high school was passed in 1992. On Wednesday, the school board authorized Seattle-Northwest Securities Corp. to sell the refinanced bonds to investors.

Superintendent David Rawls and Assistant Superintendent Dave Teater traveled to San Francisco earlier this month to seek a favorable bond rating. Floyd Ayers, vice president of the bond firm, said only one school district in Idaho has ever received a rating high than Coeur d’Alene’s. The ratings are based on fiscal health, bonding capacity, labor relations, cash reserves, condition of facilities and community support. , DataTimes