08/25/2026
FOR IMMEDIATE RELEASE
Weld RE-1 Refinances Bonds, Saving Taxpayers $1.36 Million
August 25, 2026 — Gilcrest, Colorado — Weld County School District RE-1 has successfully refinanced its existing 2017 bonds, saving local taxpayers approximately $1.36 million between now and 2031.
Much like refinancing a home loan when better interest rates are available, the District refinanced $28.15 million of its existing bonds at a lower interest cost. The bonds will still be paid off in 2031 as originally planned—the District is not extending the repayment period. Instead, the lower interest cost means taxpayers will pay approximately $1.36 million less over the remaining life of the bonds.
“This is a great outcome for our taxpayers and reflects our continued commitment to being responsible with the resources our community provides,” said Kim Bloemen, Superintendent of Weld RE-1. “We are not borrowing additional money or extending the life of these bonds. We are simply reducing the amount of interest our taxpayers will have to pay through 2031.”
Financial Stability Makes a Difference
The District’s continued focus on financial stability also played an important role in the successful refinancing.
Moody’s Investors Service affirmed Weld RE-1’s A2 bond rating, specifically noting the District’s strong fund balance levels and strong property values as factors supporting the rating. The District also received significant interest from investors, with more than $46 million in orders for the $28.15 million in bonds available for purchase. The refinancing resulted in a 3.13% true interest cost.
“Our Board of Education and district leadership have worked intentionally to strengthen the financial position of Weld RE-1,” Bloemen said. “Maintaining healthy reserves and making thoughtful financial decisions matters. Our financial stability helped position the District for a successful bond refinancing and, ultimately, meaningful savings for our taxpayers.”
The Savings Belong to Our Taxpayers
It is important for the community to know that the $1.36 million in savings does not become additional operating money for the District. The savings are in the District’s bond payments and are for the benefit of taxpayers.
“This is exactly what responsible financial stewardship should look like,” Bloemen said. “When we have an opportunity to save our taxpayers money while continuing to meet our financial commitments, we should take it. We appreciate the trust our communities place in Weld RE-1, and we will continue looking for opportunities to use taxpayer dollars wisely.”
Weld RE-1 serves students and families throughout Gilcrest, LaSalle and Platteville and remains committed to strong schools, responsible financial management and transparency with its community.
Weld County School District RE-1
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