Mansfield ISD Magazine Winter 2016 | Page 7

$ $ M $ Bond Refunding Saves District More Than $63M ansfield ISD has been fiscally responsible through the refunding of its bonds, saving taxpayers a total of approximately $63.1 million. Bond refunding allows the district to exchange its higher-interest debt for that of a lower rate. The savings were accrued through 11 different bond series since 2010. MISD has maintained outstanding ratings from Moody’s, Standard & Poor’s (S&P) and Fitch Ratings, the top three credit rating agencies. Those ratings allow MISD to achieve the lowest interest rates available for all bond financings. “The MISD Business Services Department continually looks for ways to make the most out of taxpayer dollars,” said Dr. Karen Wiesman, associate superintendent of business and finance. “We will continue to effectively manage the district’s debt and finances and ensure economical and efficient operations.” Mansfield ISD also has no capital appreciation bonds (CABs), which many other fast-growing districts have accrued. The interest on a CAB keeps compounding until payment is due, causing the interest-to-principal payback ratio to be significantly higher than traditional bonds. Mansfield & Grand Prairie URGENT CARE & Family Medicine We’re Here When You Need Us • Immunizations • School Physicals • Sports Physicals • Family Medicine Mansfield - 817-473-3979 1811 Hwy 287., Suite 140 Grand Prairie - 972-755-1785 5204 S. Hwy 360, Suite 400 Hours: Mon. - Fri. 8:30am-8:00pm • Sat. 8:30am-6:00pm W W W . M A N S F I E L D U R G E N T C A R E Mansfield . C O School M & Family 5