Circleville City Schools Board of Education is pleased to announce that the District has completed a refinancing and restructuring of its outstanding voted bonds.
On August 6, the refinancing of $24 million in voted bonds will save taxpayers approximately $6.7 million of interest expense by shortening the final maturity by nine years. Furthermore, all of this was accomplished while simultaneously lowering millage collections by 3.0 mills to District taxpayers. This financing, led by the District and in collaboration with the County Auditor, is a huge win for both the District and its constituents! The Board of Education, in conjunction with District officials, are committed to being good stewards of taxpayer dollars and providing great value for the taxes they pay.
"We are very excited to make this announcement. Our current and previous treasurer have done a fantastic job staying on top of the bond markets and refinancing bonds when it was beneficial to the district to do so. Not only are we proud to have not gone back to the taxpayers for new taxes since the bond levy was approved over fourteen years ago, we are going to save $6.7 million in interest which will allow us to stop collecting taxes to repay the bonds nine years early. This won't drop off immediately, but tax collections for the bonds will end in 2031 instead of 2040."
-Board President, Tony Reeser