The Butler Area School District is looking into plans to move away from a previously issued bond.
The district held a meeting earlier this week to discuss potential options about a bond they have on a “swap rate.” This bond is tied to the LIBOR Index, which was a standard rate of interest used for the last two decades.
However, the LIBOR will no longer be used to issue new bonds, meaning the district must make a decision on how to proceed.
Dr. Brian White says this is an opportunity to go from a bond on a variable rate to one on a fixed rate.
The board approved an agreement with a group of advisors to research possible options on how to best move forward.
The board hopes to make a decision by March.
