Gwinnett County school board members approved a bond plan Thursday evening that officials said will save the district $21.5 million, money that it could use for various school construction projects.
As part of what’s officially described as a refunding process, Gwinnett’s bond ratings were reaffirmed with a stable outlook by both Standard and Poor’s and Moody’s Investors services, the district said. The refunding plan is akin to a home refinancing plan, Gwinnett officials said.
The additional money through the refunding will be put in the district’s Special Purpose Local Option Sales Tax building program, officials said.
Gwinnett officials said it is the only school district in Georgia and in the Southeast that has a triple-A bond rating from both Moody’s and Standard and Poor’s.
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