Paying off a portion of the 2017 $5.5 million bond for the Chillicothe R-II School District was approved by the School Board. The board approved Defeasance of Debt in the amount of $340,000, as explained by the Superintendent, Dr. Dan Wiebers.
Paying off part of the 2017 Bond debt earlier.
Dr. Wiebers says this will help the district maintain its current tax levy for Fund 3- Debt Service.
Using Debt Fund reserves and maintaining the debt service levy.
The 2017 bond is set to mature in 2028.