Thursday, January 12, 2012

Astoria School District Board Passes Authorizing Resolution To Refinance Voter Approved General Obligation Bonds

DATE: JANUARY 12, 2012

Astoria School District Board of Directors passed an authorizing resolution at their January 11, 2012 board meeting to begin the refinancing of the $21,465,000 in voter-approved general obligation bonds. The refinancing of the voter approved bonds could result in a savings to taxpayers property taxes of between $1.2 million to $1.4 million.

The bonds to be refinanced are part of the district’s 2000 bond initiative that received 58 percent voter approval. The bonds were used for remodeling of Astor Elementary, Astoria Middle School, Astoria High School, and Gray School. The bonds also were used to build the current Lewis and Clark Elementary,

Astoria High School Gym, and Astoria High School Applied Science Center.

The Astoria School District Board of Directors is committed to supporting patrons in our community during these difficult economic times.

District patrons could see savings as early as July 2012. The process is scheduled to be completed in March 2012. The voter approved bond measure is set to expire in 2019.

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