I am requesting approval to make an additional early payment on the School District’s 2009 Certificates of Participation debt service.  If approved, the additional June payment will be in the amount of $2.5 million and will position the district to pay off the 2009 series in its entirety in December 2019.  Please note that this early payoff schedule will save the taxpayers a minimum of $640,388.00 in additional interest on the 2009 issue alone.  I have attached a spreadsheet created by finance detailing the interest savings for early payoff of the 2006 issue from December 2018 (Blue - $925,575.00), and December 2019 payoff of 2009 issue (Purple - $640,338.00).  The spreadsheet indicates that the combined minimum amount of interest saved for the early payoff is $1,565,913.00.