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ISD 279 - Osseo Area Schools

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District 279 board action saves property taxpayers nearly $600K

On Oct. 20, the ISD 279 School Board approved a resolution for the sale of Long-Term Facilities Maintenance bonds as part of the district’s 10-year plan, and a refunding of previously approved bonds that will save district property owners over $595,000 on taxes.

Similar to refinancing a home mortgage, school districts can refinance bonds at lower interest rates to gain savings that are passed on to district property taxpayers. By refinancing debt at a lower rate, Osseo Area Schools has saved local taxpayers more than $18 million in interest costs since 2005. Taxpayers will see savings from the board action reflected on their final tax statements in spring 2021.

The school district also retained its Aa1 bond rating by Moody’s, reflecting the district’s strong financial standing. Only three school districts in the state have a higher rating than the Aa1.