Bond refinancing to save district $1.3 million

The Pattonville Board of Education on Jan 12 approved a bond refunding that will save the district $1.3 million, or 8%, in interest payments over the next several years. The board authorized Stifel, Nicolaus & Company to refinance $13.5 million in debt owed on the district’s 2010 zero tax rate increase bond issue. Thompson Coburn was authorized as the bond counsel.

“This refinancing is calling bonds that had maturities in 2022 through 2025, and we will reissue them at lower interest rates,” said Ron Orr, Pattonville’s chief financial officer. “This is just one more way we can be good stewards of our taxpayer dollars and reduce our costs by a significant amount.”

Pattonville has been able to save more than $6 million in interest fees in the last two decades by refinancing bond issues or paying off bond issues early. The savings affect Pattonville’s debt service fund which pays for bond issue projects. The debt service fund cannot be used for the day-to-day operations of the school district, such as salaries, transportation and textbooks. The 2010 bond issue did not require a tax increase for approval.

Drummond Elementary

Hours: 8:55am - 3:40pm

Phone: (314) 213-8419

Attendance: (314) 213-8519

Fax: (314) 213-8619

Address: 3721 St. Bridget Lane
St Ann, MO 63074

Principals: Mr. Jason Van Beers, 

Dr. Amanda Denson-Butterfield

Staff Directory

 

2020-21 Student/Parent Handbook

2020-21 K-8 Behavior Guide

December 2020 Title I Parent Letter

 

 

 

Upcoming Events
Student Artwork Spotlight