SPSD pays off more loans early, saves money

At their February 27 meeting, the Sauk Prairie School Board heard River Art’s Annual Report, presented by Nick Dingman. The center continues to operate as a joint school district/community center, with a total usage that breaks down to 72 percent by the school district, and 28 percent by the community. Sauk Prairie School District uses the gallery most, taking up 78 percent of total usage, with the community using it 21 percent of the time. The report stated that River Arts always “strive[s] to be more than a typical school performing arts center,” and using rental income to supplement equipment upgrades has “allowed us to become one of, if not the best equipped ‘small’ arts center in the region.” Superintendent Jeff Wright reported on another debt defeasance for the district, a move that will save the district $596,000. By paying off existing debt early, in this case the 2015 bonds taken out to build Bridges and expand Tower Rock, the district saves on interest payments. The district has done a debt defeasance four times in the past few years and the resulting savings on interest payments total nearly $2.5 million.