Thanks to strategic financial planning and responsible stewardship of taxpayer funds, Independence Local Schools will pay off the outstanding balance of our bond that funded the construction of the Shared Facility for Independence High School and the Field House ahead of schedule. Both of which have serviced our students and community for more than two decades. This bond, originally funded through voted levy dollars, was projected to be paid off in 2030. We are proud to announce that it is projected to be paid off in 2027–three years early.
What This Means:
Significant Savings: By retiring this debt early, the district will save approximately $228,400 in interest and administrative costs. In addition to the previous savings realized by refinancing this debt.
No New Taxes: This early payoff is the result of refinancing opportunities and strategic use of existing levied dollars—not new taxes. Much like refinancing a home mortgage at a lower interest rate, we took advantage of favorable market conditions to refinance the bonds. Your taxes will go down next year as the bond rate (millage) decreases–and they could go away completely the year after, once the bond is fully paid off.
Community Impact: These savings benefit every taxpayer and reflect our commitment to making the most of every dollar entrusted to us. We remain focused on maximizing every tax dollar and are focused on strategic spending ensuring a strong, stable future for Independence Local Schools.
This early payoff is a collective win for our school district and our residents. It reflects a long-standing commitment to fiscal responsibility and ensures that more resources can be directed toward supporting student learning and district priorities.
We are deeply grateful for your continued support. Together, we are Cultivating a Legacy of Excellence—not just for today’s students, but for generations to come.
With appreciation,
Kelli Cogan, Superintendent
Jennifer Knapp, Treasurer
Independence Local Schools