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Blackfoot School Board to refinance bonds

September 24, 2010

BLACKFOOT — Blackfoot school district trustees are looking to save taxpayers a little money.
Interest rates are low because the bond market is low, said Alan Westenskow, vice president of Zions Bank Public Finance. It's a good time to refinance.
The Blackfoot School District could get a triple A rating because Blackfoot's bonds would be backed by the State of idaho.
In 2002, the Blackfoot School District issued bonds totaling $7.5 million, Westenskow said. What is still owed on the bond issue—$6.7 million—could be called and refinanced.
He estimates the school district would save $60,000 each year on the bond. The bonds are outstanding for 12 more years.
Trustees approved refinancing bonds at a public sale on Thursday, Oct. 14.
The school district's student population is down from last year's attendance, assistant superintendent Chad Struhs said, but it's up about 10 students from what was anticipated.
To see the 2010-2011 elementary teacher ratio by grade, go to the website am-news.com.

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