In a pivotal meeting held on March 27, 2025, the Burnsville Public School District Board of Education gathered to discuss a significant financial strategy aimed at benefiting local taxpayers. Under the warm glow of city hall lights, the board received a detailed report on a proposed bond refunding resolution, presented by Stacy Sovine, the executive director of administrative services, and Matthew Hammer, a senior municipal advisor from Ehlers.

The discussion centered on the district's plan to refinance existing bonds, a process initially initiated last September but paused due to unfavorable market conditions. Now, with the market showing signs of improvement, the district is poised to move forward, targeting a bond issuance in late April or May. The primary goal of this refinancing is clear: to save taxpayer money by reducing future debt service levies.

Matthew Hammer explained that the refinancing process is akin to managing a home mortgage, albeit with additional legal complexities. The district is focusing on two specific bond issues from 2015 and 2016, which are now eligible for refinancing due to their call dates. By strategically targeting higher interest rate maturities, the district anticipates generating savings between $1.5 million and $2 million, which will directly benefit taxpayers by lowering future service levies.

The board's discussions also highlighted the importance of long-term financial planning. Hammer noted that the district is exploring ways to adjust future debt levies, potentially creating up to $100 million in capacity for future capital projects without raising taxes. This proactive approach aims to align the district's financial strategies with its long-term needs, ensuring that it can effectively manage tax rates while addressing future facility requirements.

As the meeting progressed, board members expressed appreciation for the forward-looking nature of the discussions, emphasizing the importance of balancing immediate savings with strategic planning for the district's future. The board is set to authorize the bond refunding resolution later in the meeting, marking a significant step towards enhancing the district's financial health and supporting its commitment to the community.

With the bond sale anticipated in the coming weeks, the district is not only looking to save money but also to position itself for future growth and development, ensuring that it can continue to serve its students and the community effectively.