I finally got in touch with Scott Shearer of Public Financial Management on Friday (see earlier posts on the swap issue).
Nazareth has conducted 1 bond swap and unlike Bethlehem, it was with a fixed rate of 4.99% so they are not at risk.
Nazareth currently has 22% of its debt portfolio in this locked in swap deal.
This swap is for the 2007 Series and was discussed and decided in 2006 when planning for new MS took place.
Mr. Shearer will be at Monday's School Board Meeting.
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