At last night’s Altoona Area School Board meeting a decision was made to issue $50 million in new general obligation bonds.
 
Board members are hoping the move will save the district $1.65 million.
 
The bonds will pay a lower interest rate, and the district will pull the bonds it sold in 2008 off the market.
 
The district is looking at reducing interest costs from 4.36 percent to 3.05 percent on general obligation bonds.
 
School officials say the Altoona Area School District is fiscally solvent, but they worry that could be in jeopardy because of the drain on funds created by the state's Public School Employees' Retirement System.