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Refinancing Saves Clear Creek ISD More Than $600,000
12/09/2009
Clear Creek Independent School District
Office of Public Information
2425 East Main Street
League City, Texas 77573
Contact: Janice Scott, Public Information Assistant Director
(281) 284-0020 or jwscott@ccisd.net
REFINANCING SAVES CLEAR CREEK ISD MORE THAN $600,000
League City – On Monday, December 7, 2009, Clear Creek ISD successfully marketed $4,780,000 in Series 2010 Unlimited Tax Refunding Bonds. The move will save the District more than $600,000 in interest payments.
The Refunding Bonds were issued to refinance maturities from the 2000 and 2002 bond issues. These outstanding bonds had a combined average interest rate of 5.63%. With the bond sale, the District was able to refinance the bonds down to an average rate of 3.57%. As a result, the District will save $694,340 in interest payments.
“CCISD is committed to finding every possible way to save money in these tight economic times,” said Superintendent Greg Smith, “We are also committed to cutting the budget in ways that do not impact the quality of education our community expects and our students deserve.”
