A bond restructuring plan in Lehighton Area School District has officially been scrapped.

Directors unanimously voted down a plan Monday to restructure 2014 and 2015A bond notes which would have kicked larger debt payments to the end of the term, giving a short-term cash flow of $1.88 million in the 2021-22 fiscal year and $1.24 million in the 2022-23 fiscal year in exchange for a $2.69 million added cost by the time the bonds fell off after 2044.

“When this was first presented, it was part of a bigger plan,” Lehighton Director Nathan Foeller said before the vote. “Our business manager has worked diligently over the past six months to help improve our financial situation to the point where this isn’t necessary anymore. We can now put the money this would have cost us to a better use.”

Over the last two years, Public Financial Management, a Harrisburg-based financial consulting firm used by many districts around the state, presented the restructuring option to the district on multiple occasions.

Zach Williard told the board in April that if it restructured the bonds, it would be one piece of a multifaceted plan that gets the district back into a situation where it doesn’t have cash flow crunches or have to borrow money until local, state or federal funding rolls in.

Lehighton officials, however, did not look favorably upon adding debt.

“This is the most ridiculous thing ever put on agenda,” Director David Bradley said during Monday’s discussion. “I don’t ever want this rearing its ugly head again.”

Last week, Business Manager Edward Rarick advised against the move during a finance committee meeting.

“There is a cost associated with it,” Rarick said. “The district’s position is much different today than it was six months ago. When I started, we were talking about taking tax advance notes to get through the spring. We’re in a much better position today.”

During public comment Monday night, residents also spoke out against the plan.

“The one thing I hear most about from property owners is taxes and how everything keeps going up,” LASD taxpayer Fred Kemmerer said. “This would be another instance of kicking a can down the road and costing taxpayers in the future.”