School Board Discusses Reservicing Debt

Nazareth Area School Board Meeting – September 18, 2017

Presentation by PFM about Debt Reservicing

(Editor’s Note: This presentation, which took up most of the meeting time, was not listed on the agenda)

Les Hall made a statement about the market, saying the rates are trending downward due to domestic and geopolitical uncertainty and this was a good time to consider the plan he was proposing.

  • There is a 2015 FRN mandatory tender date in 2018. The school district needs to maximize low rates and minimize the impacts on the district’s budget. PFM’s suggestion is to put the FRN into fixed rate bonds. The board could adopt a resolution to move forward at the 9/25 meeting.

Dr. Stubits pointed out that swaps have been controversial and wanted to know what the advantages were to this approach. Les Hall pointed out that rates are now low and the change to a fixed rate would be favorable compared to staying in a cash market. By moving to a fixed rate, a lower interest rate would be set. No one seemed to know what the impact on property taxes would be.

Student Government Representative – Peter Huleatt

The student committee is trying to integrate Chromebooks into ticket purchasing for this year’s Homecoming.

Agenda Items

Items IV, V, VI, VII, VII, IX, X, XII and XII passed.  Links to the meeting agenda can be found here:


Residents have a right to be informed about what their government is doing. Thank you to William Bartlett for attending this meeting.


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