JACKSON TWP — Officials in the Seneca Valley School District are looking to save $824,000 by refinancing some of its debt.

The school board Monday night heard a presentation from Alisha Reesh of Janney Montgomery Scott about an opportunity to sell two bond issues.

By selling the bonds, the district would reduce its interest rates, Reesh said.

It also allows the district to even out its debt payments by avoiding an anticipated peak during the 2018-19 school year.

The bonds it is looking at refinancing were taken out in 2007, 2010 and 2011 to pay for various capital improvement projects.

The refinance will not extend the maturity of the debt, the last of which will be paid in full in 2023.

“This is purely just a shuffling around of principal to create savings and lower interest rates in that specific one year,” Reesh said.

The district will pay a little less than $10 million in debt service this year.

There are fees associated with selling the bonds to refinance, but the district will still see a net savings, said school board Vice President Jim Nickel.

“It’s a good thing for this district and we take advantage of it whenever we can,” Nickel said.

Carrying some debt to invest in its facilities makes sense for the district, he said.

The board is considering options for several long-term capital projects, he said. Earlier this year, it heard about options for replacing its aging swimming pool facility in the Intermediate High School, though it did not make a decision or set a timeline for work to be done.

The board can vote on a resolution approving the refinancing next week.

If approved the bonds will be sold during the next two months at a time that would be most advantageous for the district.