Schools look to refinance
Measure is projected to save the district $110,000 on its $3.9 million bond
Wednesday, November 17, 2010
School board members voted, on Monday night, to begin the process of refinancing the Decatur School District’s $3.9 million bond for construction of the Northside Elementary School for a projected savings of $110,000.
Danny Lovelady, of First Security Beardsley Public Finance, held a special study session with the school board members before the meeting to explain the refunding process. Because the market is just beginning to climb from an all-time low last summer, refinancing the bonds is projected to lower the interest rate from 4.15 percent to 3.69 percent, Lovelady said.
The district will save $56,088 the first year, and the rest of the savings will be spread outover the life of the loan ...
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News, Pages 1 on 11/17/2010