Hardin-Central profits by refunding certificates

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Hardin-Central profits by refunding certificates

Fri, 02/25/2022 - 01:46
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HARDIN – The Hardin-Central Board of Education has agreed to sell $1,570,000 in lease refunding and improvement certificates of participation to the district’s municipal bond underwriter, L.J. Hart & Co., St. Louis. The certificates provide funds for site development, construction, equipping and furnishing a new parking lot and playground, completion of other repairs and for improving facilities. The board will refund $475,000 of the Series 2018 refunding certificates March 1. Refunding reduces future interest expense by $53,150. Also, combining the new money certificates with the refinancing saves $9,000 in agent/trustee bank fees for a total benefit of $62,150. Added to about $93,499 from previous refundings, the work has saved $155,649 of interest expense since 2012, district information states. The certificates also were offered for sale to area institutional and individual investors. The Community Bank of Missouri purchased $300,000 and the Goppert Financial Bank acquired …

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