Georgetown ISD had higher interest savings than anticipated in its recent bond refinancing.
Last fall, the school board approved the $77.8 million sale of taxable and tax-exempt bonds to save on interest costs.
The bond sale that was finalized in late January could save the district $10.2 million during the next 13 years, which exceeded the anticipated savings of about $9.5 million that had originally been presented to the school board, GISD Chief Financial Officer Steve West said.
"This was the best situation that I have ever been involved in," West said. "The market was just perfect for this one."
Refinancing the bonds lowered the interest rate from an average of 4.58 percent to 1.66 percent, he said.