Columbia Public Schools’ Finance Committee voted Wednesday night to refinance a $53.4 million bond. The proposal, which will be presented to the Columbia School Board on Monday, involves bonds issued in 2012 and 2013, Heather McArthur, chief financial officer for the district, said.
If the School Board approves Finance Committee’s recommendation, the district is projected to save $4.6 million through 2034 by lowering its coupon rates by as much as 2 percentage points.
“Future committees will appreciate the action taken,” CPS Superintendent Peter Stiepleman said.
The committee also discussed a 10-year plan for the district, including a new bond request to be put before voters in April for an as-yet unspecified amount of new funding.
McArthur said the district wants to use the new funding for building renovations, including work that needs to be done to improve compliance with the Americans with Disabilities Act at Jefferson Middle School, a magnet school specializing in science, technology, engineering and math.
“We want to make sure all kids have access, since it’s going to be a specialty school,” McArthur said.
The School Board will meet at 6:30 p.m. Monday at the Aslin Board Room on West Worley Street.