9/22/2020

The Gibbon Fairfax Winthrop (GFW) School Board unanimously approved a resolution to refinance other “post-employment benefit” (OPEB) bonds Monday. According to PMA Securities, $1.1 million in 2009 bonds purchased for staff medical expenses at 5.42% interest would be refinanced at about 2.76%. The move is expected to save taxpayers $27,500 over five years. The bonds would be executed on Oct. 14 and ratified by the board Oct. 19, with an Oct. 20 call notice. They will close on Nov. 18, with a Nov. 20 call date. The board also approved selling the Gibbon football field to the City of Gibbon for $50,200; the maximum preliminary levy for taxes payable in 2021; a dance team coop with Sibley East; and a $1,400 athletic equipment donation from the GFW Athletic Boosters.

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