On September 2, 2020, the Columbus City School District (the “District”), sold its $36.645 million Various Purpose Taxable Refunding Bonds, Series 2020 (General Obligation – Unlimited Tax). The Bonds were rated Aa2 (Stable) / AA (Stable) by Moody’s and S&P, respectively. Bond proceeds were used to advance refund a portion of the District’s outstanding Series 2012, 2014 and 2014A General Obligation Bonds and to pay costs of issuance for the Bonds. The transaction had an overall subscription of 3.5x and due to strong investor interest, the Firm was able to tighten spreads up to seven basis points along the yield curve. The refunding generated the District $3.678 million of Net Present Value Savings or 7.784% of the refunded par amount.