Northern Lehigh School District could realize about $65,000 of debt service savings through the issuance of general obligation bonds.

The school board on Monday authorized district administration to work with PFM Financial Advisors LLC as financial advisor, Raymond James as underwriter, and King Spry as bond counsel and solicitor to proceed with the issuance of general obligation bonds, to achieve net debt service savings.

In the fall, the district executed a debt restructuring program to make annual budgeted debt service more affordable, and to provide $2 million for capital projects.

The outstanding issues affected were portions of the district’s 2012, 2018A, 2018B and 2020 bonds.

A portion of the districts 2018A were not included in the taxable debt restructuring at that time since there were no resulting savings. The plan was to wait until closer to the issue’s call date (Sept. 1, 2023) so a traditional tax-exempt current refunding could be considered.