Letters to the Editor
Letter to the Editor | Why didn’t school district use interest to pay down the bond?
PSD 401 is using “interest earned on capital bonds” in the purchase of 20 acres.
Per Gig Harbor Now: “The district purchased the land using interest earned on the 2019 bond sale proceeds while in the district’s Capital Projects Fund, as well as matching funds provided by the state, district sources said.”
Why isn’t the future — albeit estimated — interest to be earned from the capital bond issuance, calculated into the original bond request; and thus lowering the initial bond amount requirement? Or, use this interest to pay down the bond earlier?
Just curious as to why PSD 401 is timing the bond sales/s to earn interest; and then not returning the interest to pay down the bond? Just because the voters approved the original bond amount — is PSD not considering reducing the communities’ tax obligation?
Sidebar: Why don’t we see the PSD 401 superintendent comment on district issues?
Doyle Hughes
Gig Harbor