Atlanta ISD refinances bond, reaps savings

Atlanta Independent School District announced Wednesday, Sept. 16, the closing of $4,835,000 in Unlimited Tax Refunding Bonds, Series 2020 which refunded the district’s Series 2010C bonds. The refinance will lower its net future payments by $899,744.

According to Superintendent Sidney Harrist in a press release last Wednesday, the closing of the bond will have a positive impact on the district.

“The interest cost savings resulting from the recent refunding will allow us to continue to provide the highest quality education while reducing the cost to our constituents”, Harrist explained.

Government Capital Securities Corporation (GCSC), a municipal advisory securities firm headquartered in Southlake, Tex., has represented the district since 2010 and assisted with the structuring and closing of the financing.

“I want to congratulate Superintendent Sidney Harrist and the school board for being responsible with their resources,” stated Wade Thompson, Government Capital Securities Corporation Vice President. “Like most Texas school districts, Atlanta ISD is continually asked to do more with less. We at Government Capital Securities are proud to have partnered with the district on a refunding which will deliver tremendous savings to the district.”

Atlanta voters approved the bond to construct the Atlanta Middle School in 2008.