Sean C. Morgan
The District 55 School Board authorized Business Manager Kevin Strong to refinance the district’s current bond when he can.
State law permits districts to refinance bonds when savings reach 3 percent of the “net present value,” Strong told the board Monday night. The move is similar to refinancing a home.
When the savings reaches the threshold, the district can borrow money to cover the bond.
The bonds, $17.29 million worth, are not…