Nov 18, 2015 2 min read

WAYNESBURG – The Central Greene School Board reached an agreement over refinancing a number of bonds Tuesday, mulling two options that differ depending on interest rates.

With the first option, the board would refinance a portion of the bonds this year and another portion the following year. This option could possibly save the district $2.085 million as long as interest rates stay low. The district would also be eligible for bank loans in the next year.

If interest rates rise in the coming year, the savings would decrease, making it a risky proposition.

The second option is to refinance as many bonds as possible this year while rates are low. With this option, the board would save the district a guaranteed $2 million. The board unanimously approved the second option to refinance as many bonds as possible this year. Board members agreed that saving an additional $85,000 in the first option was not worth the risk if rates rise.

The board also approved a three-year agreement with Dubois Water Treatment to maintain the boilers and chillers in the school buildings.

The agreement begins immediately and runs until Oct. 28, 2018, and costs the district $3,000 per year.

Tuesday’s meeting was the last for three board members, Roberta Boyd, Joe Ayersman and Eleanor Chapman, whose terms expire this year.

Superintendent Brian Uplinger presented the three members with plaques.