The Saginaw Public School District is taking another step toward financial responsibility and community trust by refinancing a portion of its 2016 bonds to secure lower interest rates and long-term savings for taxpayers.
Beginning in January 2026, the district plans to refinance $11.475 million in 2016 refunding bonds that mature between 2027 and 2034. By locking in today’s lower interest rates—estimated around 3.25% compared to 5% in 2016—the district expects to save approximately $1.2 million over the next nine years.
“We are putting money back in the pockets of taxpayers,” said Municipal Advisor William Roche of Sudsina & Associates.
The refinance will reduce the district’s tax rate by about one-tenth of a mill, providing modest but meaningful relief to local homeowners and businesses. Importantly, no general fund dollars will be used to cover issuance costs; those costs will come directly from the bond proceeds.
“We made a promise, and we are keeping it,” said Board President Dr. Charles Coleman.
Roche noted that the district is well-positioned to benefit from favorable market conditions.
“Interest rates are lower now than when the bonds were sold in 2016,” he said. “If the market holds through January, the district will move forward. If not, there will be no cost to the district for waiting.”
What This Means for the Community
$1.2 million in projected savings over nine years
Lower tax rate by about one-tenth of a mill
No cost to the district if refinancing doesn’t proceed
No impact to classroom funding or general fund resources
This proactive approach reflects the district’s ongoing commitment to fiscal responsibility, transparency, and good stewardship of taxpayer dollars—ensuring every resource supports students, families, and the long-term success of Saginaw Public Schools.