CFISD school board OKs bond refinancing

Cypress Fairbanks Independent School District trustees agreed this week to take advantage of low interest rates by refunding portions of four outstanding bond issues. The school district's financial adviser, Ryan O'Hara of RBC Capital Markets, said the interest rate currently paid for the bonds averages about 5.07 percent and could be reduced to 2.25 percent in today's market. The district's total outstanding debt-service obligation through 2038, which totals less than $3.1 billion, would be reduced by more than $4 million, the report shows.