The board received a presentation from Brian Brewer of Baird outlining an opportunity to refinance callable portions of the 2016 referendum debt.

Brewer said interest-rate movement created the potential to replace the higher rates in years 11–20 of the 2016 financing with lower current rates for the remaining term, producing estimated levy savings. He described an illustrative savings figure "around 2,600,000.0 of future levy reduction" over the next 10 years and explained those savings must remain in fund 39 (debt service) and cannot be transferred to the operating fund.

Board members asked technical questions about defeasance versus refinancing, term structure and the timing (first eligible refinance date noted as March 1, 2026). Brewer said the district would present parameters for going to market at a future meeting (the transcript references a Dec. 4 action item to set parameters), and staff noted the current Moody's rating is Aa1.

No formal refinancing motion was taken at this meeting. Administration said final savings will depend on market conditions at sale and that a board action to authorize parameters would be on a later agenda.