The announced on Tuesday that it has refunded bonds originally issued in 2002 for the renovation and expansion of Hewlett High School, producing annual savings of about $215,000 each year over the next 10 years, it said.
“The refunding of bonds at this time will translate into real savings for residents,” Superintendent Dr. Joyce Bisso said in a release. “One of our primary goals is to continue to find ways to achieve long-term savings without impacting the programs and services that are most important to our students.”
The district said that current market conditions and the Moody’s bond rating led to the successful refunding of the bonds. The Board of Education authorized the refinancing of the bonds in 2002.
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"Congratulations to the district's leadership on being able to realize these savings,” incoming board member Scott McInnes said in the release. “There's nothing better than finding ways to save the district's taxpayer's money while having zero impact on student programs and services. I hope this is the first of many ways we are able to do just that this coming year."
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