MUSD LOOKING TO REFINANCE "CAB" BOND

The board will revisit the topic in February at their next board meeting. They are looking to refinance those loans as soon as economically possible. Depending on the economy, it could take at least ten years before the refinance process can begin. Davies-Hughes states, “So we're talking these CABS of 40 year term bonds and there is no short-term solution when we look at refinancing cab bonds.” Superintendent Michael Davies-Hughes says that the loan was imperative for the district’s renovation projects—projects that were approved by the voters. School districts across the state are using the high interest loans to meet their financial obligations. The topic was up for discussion at last night's McKinleyville Union School District board meeting. At last night’s board meeting a financial advisor presented multiple options for refinancing the McKinleyville Union School District’s “Capital Appreciation Bond.”