At its regular meeting on Aug. 9, the Avonworth School Board took the first step toward refinancing the districts bond issues.

It unanimously authorized the proper officers of the Board to explore the possibility of issuing general obligation bonds and appointing professionals to assist the school district in taking the necessary actions to accomplish the refinancing.

The board approved the appointment of PNC Capital Markets, LLC to serve as investment banker for the purpose of examining the feasibility of, and the possible completion, of the refinancing. The board also approved the appointment of the law firm of Dinsmore & Shohl to serve as bond counsel.

The refinancing could save the district between $300,000 and $500,000 over the next 10 years, according to board president David Oberdick.