WBSD Secures Borrowing, Cuts Interest by $10.7M

WEST BEND — The West Bend School District has finalized borrowing for the $106.25 million in facilities referendum projects approved by voters in November 2024, taking advantage of favorable interest rates to save taxpayers $10.7 million.

District officials announced that the borrowing occurred in two phases. The first round in April 2025 secured $80 million in general obligation bonds at a 4.42% interest rate, while the second round in January obtained the remaining $26.25 million at a 3% rate. The combined borrowing results in a blended interest rate of 4.22%.

Because of the lower-than-expected rates, the projected total cost of the referendum projects dropped from $165.45 million to $154.75 million, an 18% reduction from original estimates that had accounted for higher interest expenses.

"The savings for taxpayers could potentially be reduced even further in future years through refinancing or early repayment of the debt, strategies the West Bend School District has a long history of utilizing," said a release from the WBSD.

District leaders credited the savings to its strong financial position. Standard & Poor’s maintained the district’s AA credit rating, which was upgraded from AA- last March after five straight years of positive operations and long-term fiscal planning.

Strong Financial Management Behind the Savings

According to the district, the improved rating reflects comprehensive financial policies, updated capital planning, adherence to fund balance thresholds, and disciplined budgeting practices. Those factors allowed WBSD to secure more competitive bond terms than initially projected.

Officials said the district will continue monitoring the bond market for opportunities to refinance or pay down debt early, moves that could generate additional taxpayer relief over the life of the borrowing.

Construction Timeline Moves Forward

The district also released a detailed update on the construction projects funded by the referendum. The most significant milestone will be the start of the new Jackson Elementary School, with construction set to begin this spring and a groundbreaking ceremony planned for May.

Other scheduled improvements include:

• Badger Middle School (Summer 2026): replacement of the fire alarm system, new gym floor and bleachers, and conversion of portions of locker rooms into academic space.
• Silverbrook Intermediate School: installation of en-suite bathrooms in kindergarten rooms, remodeling of special education areas, and replacement of the loading dock.
• Green Tree Elementary School: reconstruction of the front parking area and driveway to improve traffic flow and safety.
• High School Planning: district administrators and staff are working with design partners on upcoming renovations and upgrades.

A scheduling change will also accelerate the closure of the Rolfs Education Center, which will now shut down in June 2026 instead of June 2027 due to earlier timelines at McLane and Green Tree elementary schools.

"The Early Learning Program classrooms now held at Rolfs will move to Green Tree and McLane in September 2026," said the release.

Community Impact and Next Steps

District officials emphasized that the projects are designed to modernize aging facilities, expand academic space, and improve safety for students and staff. Regular updates will continue as construction progresses across multiple campuses over the next several years.

Originally reported by GM Today.