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Berkshire Local Schools Saves Approximately $5.7 Million with Recent Refinancing


The Berkshire Local Schools recently received the news that it will save taxpayers approximately $5.7 million over the next 30+ years due to the District’s refinancing of the bond related to the new PreK-12 facility. The substantial savings comes as a result of the Berkshire Schools’ leadership proactively taking advantage of lower interest rates presently in the market, along with its financial strength as a public institution. With the refinancing of the debt, the Berkshire Local Schools will reduce its current interest rate on the bond of 3.5% to 2.56%. In the process, the Berkshire Local Schools earned an improved, and very strong A1 rating from the national ratings firm, Moody’s, which accompanies a “High Quality” designation for investors. The District views this is as win-win-win scenario, with taxpayer savings, the District’s reduction in total bond retirement exposure and the students, who will begin their formal educations in a new school during the 2021-2022 School Year. Thank you for your continued support of the Berkshire Local Schools.

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