Bond Information

The Dysart Unified School District had a bond question on the 2006 ballot that was approved by voters. The bond was approved for up to $192 million, however, the district only ended up selling bonds for $122 million. Bonds are typically sold and then paid back over a range of time from 1 to 20-years. 

Refinancing Saves Over $20 Million in Interest Costs

Dysart consistently monitors for and seeks opportunities to refinance and repay bonds for the benefit of district taxpayers. In the last 10 years, over $20 million in interest cost savings was created for taxpayers through the refinancing of three prior bond issues with average rates ranging from 4.0% to 5.8% to new rates ranging from 1.6% to 2.8%.  In this situation, the district does not get to spend more money or use the savings in other areas, instead, this savings solely benefits taxpayers by lowering the bond tax rate. It does not lengthen the payback period, which goes through 2027.  Though bond rates remain low in the current market, outstanding bonds are not currently able to be redeemed earlier than the designated payback period and the district does not have an opportunity to refinance at additional savings. However, it is anticipated that the ability to do so should present itself in the next couple years.

How Was the 2006 Bond Spent?