In order to get a favorable deal on bond refinancing the DuBois Area School Board held an emergency meeting Tuesday.
With board member James Yount abstaining, the board voted to take on a debt of $6,400,000 through bonds. This debt will be used to pay off existing bonds from 2003, and is expected to save the DuBois Area School District $201,000 with the refinancing.
The next work session for the school board being on May 14 and the regular meeting falling on May 20. There was no guarentee that if the school board waited that long they would have this savings.
It is expected that the old bonds will be paid off by May 24.