Fridley School Board Unanimously Approves Resolution to Pursue 2026A Refunding Bonds

FRIDLEY, MN — In a decisive move to enhance fiscal responsibility and reduce taxpayer burden, the Fridley Public Schools Board of Education unanimously approved a resolution on October 7, 2025, authorizing the district to pursue the issuance of general obligation refunding bonds, Series 2026A. This strategic refinancing initiative aims to capitalize on favorable market conditions to lower interest costs associated with existing debt obligations.

The resolution empowers district officials to proceed with the refunding process, contingent upon achieving specific financial parameters. These include securing present-value savings, maintaining interest rates not exceeding 5 percent, and adhering to a predetermined maximum principal amount. The anticipated bond sale is projected to close around April 1, 2026.

Financial advisor Matthew Hammer of Ehlers, the district's municipal advisor, presented the proposal to the board. He explained that the bonds eligible for refinancing encompass those issued in 2016 and earlier, as well as bonds refunded in 2016 that have reached their call dates. By refinancing these callable bonds, the district aims to reduce its debt service obligations over the remaining term.

Based on current market conditions, the district anticipates realizing between $400,000 and $500,000 in interest cost savings. These statutory savings are mandated to be applied directly to reduce future debt service levies, thereby benefiting taxpayers.

The board's approval of this measure underscores its commitment to prudent financial stewardship and long-term planning. By proactively managing its debt portfolio, the district seeks to ensure that taxpayer dollars are utilized efficiently, ultimately supporting its educational mission and enhancing the quality of education for all students.

For more information on the district's financial strategies and updates, residents can visit the Fridley Public Schools website or contact the district's finance department.

MinneapoliMedia