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Olympia School District (PDF download)

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					                                                                                                                   Board of Directors
                                                                                                                      Mark Campeau
                                                                                                                          Allen Miller
                                                                                                                   Justin Montermini
                                                                                                                     Eileen Thomson
                       Olympia School District                                                                           Frank Wilson
                                                                                                                           Olivia Lord,
                       1113 Legion Way SE | Olympia, WA 98501 | http://osd.wednet.edu                          Student Representative

Ryan Betz, Director                                                                                William V. Lahmann, Superintendent
Communications & Community Relations
360/596-6104 | Fax 360/596-6101
rbetz@osd.wednet.edu



FOR IMMEDIATE RELEASE


               Bond Refinance to Save OSD Taxpayers $4.9 Million

Olympia, May 15, 2012—Olympia School District has refinanced a portion of its
outstanding bonds in order to take advantage of lower interest rates. The recent
refinancing will save the District’s taxpayers a total of $4,901,535 during the next eleven
years. These savings flow directly to taxpayers through reduced tax levies and are not
available for District expenses.

The Olympia School Board accomplished these savings by approving the issuance of
$54,415,000 in refunding bonds. The District has been monitoring bond market conditions
over the past year and recent low interest rates allowed the District to actually exceed their
savings target. Interest rates averaged 1.94% on the new bonds compared to 4.80% on the
old debt.

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                               Equal Educational Opportunities    Equal Employment Opportunities

				
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